Balancer Launches Recovery Effort After Stablecoin Pool Incident

Balancer has initiated a recovery plan following an incident impacting its V2 stablecoin pool, according to blockchain news outlet Odaily. The company disclosed that approximately $4.1 million was transferred to an escrow account for reconciliation and eventual restitution. This incident is isolated to the Balancer V2 stablecoin pool; Balancer V3 remains unaffected. Community members are advised to exercise caution against phishing attempts and refrain from interacting with the affected pools until further updates are provided following the completion of the recovery process.