- No automatic refunds: victims must vote on per-pool proposals and actively claim funds.
- Post-mortem confirms $94.8M net losses from Nov 3 rounding bug in V2 pools.
- Two governance votes passed today: V2 factories fully disabled + rETH gauge migrated to V3.
Nov. 18 (Crypto-News.Net) – Victims of the November 3 Balancer exploit will receive no automatic refunds or airdrops and must actively participate in future per-pool governance proposals to recover any funds, Balancer Labs confirmed in its detailed post-mortem published today.
The document stated that compensation will only occur through individual on-chain proposals for each affected pool, requiring liquidity providers to vote and then manually claim their share of any recovered or allocated funds, according to the official Balancer post-mortem.
No compensation proposals have been submitted yet, though the post-mortem indicated service providers will soon prepare BIPs for affected pools.
Exploit Details and Losses
Diagram showcasing the possible and actual movement of funds. Credit: Balancer
The incident resulted in $94.8 million in net user funds stolen after emergency actions protected or recovered approximately $45.7 million from the original $121.1 million gross impact.
The root cause was an incorrect rounding direction in “exact out” swaps within V2 Composable Stable Pools, independent analyses from Certora (Nov. 6) and Trail of Bits (Nov. 7) confirmed.
V3 architecture remained completely unaffected.
Immediate Governance Actions
On the same day the post-mortem was released, two governance proposals that directly address the exploit’s fallout passed with 100% approval and 151% quorum:
- BIP-887 disabled the last remaining active V2 pool factories (WeightedPoolFactory, ManagedPoolFactory, and NoProtocolFeeLiquidityBootstrappingPoolFactory) across all networks, completing the V2 deprecation process, according to the approved proposal payload.
- BIP-888 migrated the mainnet rETH gauge from the deprecated V2 rETH/WETH pool to the new V3 rETH-waEthWETH pool, with recycled fees redirected accordingly, according to the approved proposal payload.
Both votes closed hours ago after running since November 14. StakeWise DAO continues separate governance handles osETH and osGNO recoveries.
