Berachain Halts Network to Contain Balancer-Linked Exploit

Berachain validators have halted the network to address a vulnerability linked to the Balancer V2 exploit. This coordinated action allows for an emergency hard fork aimed at recovering potentially compromised user funds, estimated to be around $12 million. The exploit has affected the Berachain network's largest decentralized exchange, BEX, which holds over $50 million of various tokens. The issue appears to be caused by an access control flaw in the Balancer vault, which has also impacted other DeFi protocols. According to Smokey The Bera, a co-founder of Berachain, user fund safety prompted the immediate halt, recognizing the contentious nature of such a decision. The network hopes to isolate the compromised contracts and recover the affected assets before resuming operations.

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