Balancer, a decentralized finance (DeFi) protocol with over $750 million in value locked up, appears to have been hit by another major exploit, with on-chain data showing around $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 Balancer version 2 (V2)
The exploiter address has already started consolidating assets, raising concerns about potential money laundering through decentralized mixers or cross-chain bridges.
Balancer’s BAL token is down over 5% since Monday’s peak, 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 collectively cost millions.
