An Emergency Halt is a pre-programmed function within a smart contract or blockchain protocol that allows for the temporary suspension of specific operations or the entire system. This mechanism is typically activated in urgent situations, such as the discovery of a critical vulnerability or an ongoing exploit. Its purpose is to prevent further damage or loss of assets.
Context
The use of emergency halt functions often sparks discussions regarding the balance between security and decentralization within blockchain protocols. While essential for immediate incident response, centralized control over such a mechanism can raise concerns about censorship resistance. Protocols strive to implement these features with transparent governance models.
A critical access control flaw in the V2 Composable Stable Pool's `manageUserBalance` function permitted unauthorized internal withdrawals, compromising over $120 million in pooled assets.
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