TechFlow, on December 24, according to Financefeeds, the Gnosis Chain has executed a hard fork, successfully recovering funds related to the $116 million hack attack on Balancer in November.
Gnosis confirmed via the X platform on Tuesday that the hard fork was completed, and the stolen funds are now "out of the hacker's control." Previously, most validator nodes had implemented an emergency soft fork in November to mitigate losses. Philippe Schommers, Head of Infrastructure at Gnosis, said the recovered funds will be deposited into a wallet controlled by the DAO, and the community will decide on the subsequent distribution plan.
Earlier reports indicated that Balancer disclosed on November 3 that its decentralized exchange and automated market maker were attacked, resulting in losses exceeding $116 million. White-hat hackers and internal rescue efforts have successfully recovered approximately $28 million in assets.
