Gnosis Chain has executed a hard fork to recover $116 million worth of stolen Balancer funds

Gnosis Chain has executed a hard fork, successfully recovering funds related to the $116 million hack suffered by Balancer in November.

Gnosis confirmed on Tuesday via the X platform that the hard fork has been completed, and the stolen funds are now "out of the hacker's control." Previously, most validator nodes had taken emergency measures through a soft fork in November to control the losses. Philippe Schommers, head of Gnosis infrastructure, stated that 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 had been attacked, resulting in losses exceeding $116 million. White hat hackers and internal rescue operations have successfully recovered approximately $28 million in assets.