Balancer begins recovery from 169.6 billion won hack... Proposes distribution plan for 11.7 billion won recovered funds including from white hat hackers.

Source: TokenPost Original Title: Balancer, 169.6 billion won hacking recovery begins… Proposal to distribute 11.7 billion won recovered funds including white hat hackers. Original Link: The Ethereum(-based DeFi) protocol Balancer( has officially proposed a distribution plan for the recovered funds related to the hacking incident that occurred last November, amounting to approximately $116 million), or about 169.6 billion won(. This proposal focuses on the distribution of approximately $8 million), or about 11.7 billion won(, from the total recovered funds.

Two members of the Balancer community submitted a proposal containing this information on the 4th, and revealed the distribution plan of the assets recovered by white hat hackers and the internal restructuring team in response to the hacking incident at that time. Approximately $28 million), or about 4.1 billion won(, was returned by various recovery entities, among which about $8 million was the funds recovered by white hat hackers and the internal team.

The remaining approximately $20 million ), about 29.3 billion won (, has been recovered by the Ethereum staking platform, and this portion will be distributed to the relevant users through a separate process. In other words, this proposal is limited solely to the handling of funds secured by white hat hackers and the internal structuring team.

Balancer has been seeking community-driven solutions following the hacking incident and is attempting to restore trust through the transparent distribution of recovered assets. However, the specific distribution criteria and the method for determining the amounts are expected to be finalized through future community voting.

The attack that occurred last November targeted a vulnerability in the Balancer smart contract, raising awareness of security issues across DeFi at the time. Security experts, acting as white hat hackers, contributed to moving assets in advance or tracking the attackers to recover some funds.

This proposal is gaining attention as a risk mitigation model for similar incidents in the future while demonstrating the autonomous response capability of the protocol's own community. In particular, if the compensation principles for the various entities that played roles in the damage recovery process are established, it is evaluated that it could have a positive impact on the security response system of the DeFi ecosystem.

Market Interpretation

The hacking damage in the DeFi sector remains a significant risk, but community-based autonomous recovery efforts are increasing. The recent case of Balancer could serve as a reference for future cyber attack response models.

Strategic Point

Strengthening the roles of white hat hackers and user rescue teams, designing a proactive response system, and ensuring the transparency of asset recovery distribution can establish new standards for DeFi governance.