$120 Million Crypto Hack Blamed on Office Space-Style Exploit
Earlier this week, a critical vulnerability in the decentralized finance (DeFi) protocol Balancer was exploited, with crypto losses estimated to be worth $120 million or more. While it was initially unclear how the exploit worked, a preliminary report from the team behind Balancer has indicated it mostly came down to how the protocol dealt with rounding crypto token balances.
This exploit of Balancer shocked many in the DeFi ecosystem, as this is a project that has undergone many security audits from respected firms, and the particular version of the protocol that was exploited had existed in the wild since 2021.
In an interview with CNBC’s Squawk Box on Wednesday morning, former Director of the Cybersecurity and…
