Balancer, a decentralized finance (DeFi) protocol with over $750 million in locked value, appears to have been hit by another major exploit, with on-chain data showing approximately $70.9 million in digital assets drained to a new wallet.
The affected funds include 6,850 osETH, 6,590 WETH, and 4,260 wstETH, blockchain data analyzed by CoinDesk showed, and appeared to affect version 2 (V2) of Balancer.
The exploiter’s management has already begun consolidating assets, raising concerns about possible laundering through decentralized mixers or cross-chain bridges.
Balancer’s BAL token has fallen more than 5% from its peak on Monday, CoinGecko data shows.
The team has yet to issue an official statement, although this marks the third known security breach for the project, following incidents in 2021 and 2023 that together cost millions.
