Balancer community proposes plan to distribute funds recovered from hack

The proposal details how roughly $8 million recovered from the $116 million November hack would be distributed to victims.

Two members of the Balancer protocol community submitted a proposal on Thursday outlining a distribution plan for a portion of the funds recovered from the protocol’s $116 million November exploit.

About $28 million from the $116 million heist was recovered by white hat hackers, internal rescuers, and StakeWise — an Ether liquid staking platform. 

However, the proposal covers only the $8 million recovered by white hat hackers and internal rescue teams, while the nearly $20 million retrieved by StakeWise will be distributed separately to its users.

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