
DeFi 協議 Balancer 遭駭 1.28 億美元後,因無收入與法律風險宣布停止營運。未來將轉由 DAO 維持並停止發行代幣,創辦人也將退出,凸顯舊模型的困境。
Balancer遭駭後已無收入,正逐步停止營運
去中心化金融(DeFi)協議 Balancer 在今日(3/24)稍早宣布正在逐步停止營運。自從 2025 年 11 月遭駭 1.28 億美元的漏洞攻擊後,該平台面臨著持續性的法律風險。
由於 Balancer 目前已經沒有可持續的收入來源,其背後的開發商 Balancer Labs 選擇逐步停止營運。未來該協議將繼續以去中心化自治組織(DAO)、基金會和服務提供者的結構維持運作,而原團隊的核心員工在經過治理投票批准後,預計轉移到全新的營運實體。
Balancer重組計畫曝光,創辦人將退出正式職務
Balancer 共同創辦人 Fernando Martinelli 概述了重組計劃的內容,包含停止發行 Balancer 代幣(BAL)、逐步取消 veBAL 治理模型,並重組手續費結構,讓 DAO 金庫能夠接收 100% 的協議手續費,同時將 V3 協議的份額降至 25%。
其他措施也包括實施 BAL 代幣回購以提供持有者退出流動性,並將開發重心集中在 reCLAMM、流動性引導池、穩定幣與流動性質押代幣池等核心產品,以及跨越較少區塊鏈的權重池。
概述代幣經濟重組與營運變更的正式提案,將由核心團隊另行發布。
Martinelli 也透露,未來他將不再與該協議維持正式關係,但他強調自己依然堅信 Balancer 的底層技術與留下來的團隊。

圖源:Balancer 共同創辦人 Fernando Martinelli聲明˙Balancer遭駭後已無收入,宣布正在逐步停止營運
回顧Balancer駭客案,四捨五入函數漏洞釀禍
回顧 Balancer 去年的遭駭事件,駭客主要利用智能合約中 upscale 四捨五入函數的邏輯漏洞,結合 BatchSwap 批次交易與閃電貸機制,在單一筆交易中進行多次複雜操作,讓資金池內的資產被重複抽取。
Balancer 的駭客攻擊波及多條公鏈,包括 Ethereum、Base、Avalanche、Arbitrum、Optimism、Polygon、Gnosis、Berachain 與 Sonic,這也再次警示整個 DeFi 產業,即使在信任最小化的架構中,暴露於網路的熱錢包與資金池依舊是駭客的主要目標。
儘管 Balancer 對事件的透明處理與跨鏈協作獲得讚揚,但這次攻擊凸顯出 DeFi 長久以來的結構性難題。複雜的可組合式設計雖然讓創新加速,卻同時放大了攻擊面。
四捨五入錯誤僅為數學邏輯上的細微疏漏,卻引發跨鏈資金池的連鎖災難,顯示目前產業仍缺乏統一的審計標準與風險防火牆。
- **相關報導:**Balancer駭客事件報告公開!一個漏洞如何重創整個DeFi產業?
Balancer治理與安全成後續考驗
Zeus Research 分析師 Dominick John 則指出,Balancer 暴露了結構性失敗,並指出該協議已經屈服於一個代幣排放消失、治理減弱且價值捕獲過於淺薄的破碎模型。
他認為精簡營運可能是正確的決定,但這僅是後期的修補措施,並補充說明依靠代幣獎勵驅動增長所建立的舊有 DeFi 模型正在被淘汰。
Tiger Research 資深分析師 Ryan Yoon 則對外媒《Decrypt》表示,**關閉公司似乎也是 Balancer 尋找快速逃避法律風險的一種方式,**接下來的考驗將是縮減後的團隊能否真正修復治理問題。
Yoon 認為,團隊必須保持治理的一致性、確保安全完好無損,並維持金庫穩定以推動協議發展。
延伸閱讀:
Stream爆損、xUSD脫鉤骨牌:十多個DeFi平台恐遭波及,曝險近3億鎂
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