Crypto
Balancer Labs to liquidate company after $128 million hack; protocol to keep running
Balancer Labs, which operates the DeFi protocol Balancer, will dissolve its corporate entity following a $128 million hack, The Block reported on March 24. Co-founder Fernando Martinelli said a Nov. 3 hack last year increased legal burdens and keeping the entity was not responsible. He said the team became a liability without revenue. Core staff will move to a new entity, Balancer OpCo, after a governance vote. The protocol will continue operating, he said.
