Balancer Hack Recovery Plan Leaves LPs in Limbo
Balancer Labs has proposed a plan to recover funds lost in an August hack that drained $1.39 million from liquidity providers (LPs). According to the proposal, the recovered Ethereum worth approximately 296.401711 ETH would be divided among LPs based on their pool token holdings at a specific Ethereum block number.
The allocation formula takes into account each pool's share of the total dollar loss during the attack and then distributes the recovered funds accordingly. However, without access to the per-pool allocation table, holder lists, or per-address amounts, individual LPs cannot calculate their exact payout.
Furthermore, claimants would need to provide digital consent releasing Balancer Labs and affiliated parties from liabilities related to the incident before receiving payment. Payments would be made in ETH, while contract and multisig claims would be handled on a case-by-case basis.