StakeWise Recovers $20.7 Million From Balancer Exploit, To Reimburse Users Pro Rata

• StakeWise has retrieved $20.7M, or 73.5% of osETH and osGNO hit in the Balancer V2 exploit, via DAO emergency actions.
• The unrecovered 26.5% (~$7M) was converted to ETH too quickly to claw back; users will be repaid pro rata on recovered funds.
• Balancer, Gnosis and SEALs coordinated the response, while Balancer kept a 20% white-hat bounty open for remaining assets.

StakeWise has pulled off a rare recovery in the DeFi world, retrieving the majority of assets lost in the recent Balancer exploit that rocked the ecosystem.

The liquid staking platform confirmed on Nov. 4 that its DAO emergency multisig successfully recovered 5,041 osETH (worth about $19 million) and 13,495 osGNO (approximately $1.7 million) from the hacker.

The $20.7M Recovery: How StakeWise Got 73.5% Back

According to StakeWise, the recovered assets represent 73.5% of the 6,851 osETH drained duri…

Read The Full Article StakeWise Recovers $20.7 Million From Balancer Exploit, To Reimburse Users Pro Rata On Coin Edition.