Audits Alone Didn’t Prevent $116M Balancer Hack

[johnblockbuster]

Despite 11 smart contract audits by four blockchain security firms, Balancer fell victim to a $116M exploit in November. The attacker exploited a rounding function in EXACT_OUT swaps combined with a batched transaction to drain funds. The incident raises questions about whether audits alone can ensure smart contract safety, even as the protocol moves to reimburse victims.

[Abdul Khan]

Audits help, but they’re not a shield—protocols need layered security.

[Rimon Khan]

This breach proves vulnerabilities can survive even multiple audits.