Berachain Foundation recovers $12.8M from Balancer V2 exploit
Swift collaboration with a white hat and emergency network measures enabled Berachain to restore security and user trust after the exploit.
Key Takeaways
- Berachain Foundation recovered $12.8 million after an exploit impacted its native DEX (Bex) and Balancer V2.
- A white hat hacker coordinated with the foundation to facilitate the asset recovery.
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Berachain Foundation successfully recovered $12.8 million from an exploit affecting Bex, Berachain’s native decentralized exchange, and Balancer V2, a protocol whose vulnerabilities prompted network halts and emergency patches on the EVM-identical Layer-1 blockchain.
The recovered funds were returned to the Berachain Foundation Deployer address following coordination with a white hat hacker who facilitated the asset recovery process.
Berachain distributed a hard fork binary to validators to prevent unauthorized transfers of exploited assets, enabling the secure recovery of the funds. The foundation also coordinated with key infrastructure partners, including oracle providers, to ensure operational readiness before relaunching the chain.
The exploit prompted Berachain to implement a hard fork and chain restart as part of its recovery process from the security incident.
