Balancer, a decentralized finance (DeFi) protocol with over $750 million worth locked up, appears to have fallen victim to another large-scale exploit, with on-chain data showing approximately $70.9 million in digital assets leaked to new wallets.
According to blockchain data analyzed by CoinDesk, the affected funds include 6,850 osETH, 6,590 WETH, and 4,260 wstETH.
The abuser’s addresses have already started consolidating assets, raising concerns about potential laundering via decentralized mixers and cross-chain bridges.
Balancer’s BAL token has fallen more than 5% from its peak on Monday, according to data from CoinGecko.
Although the team has not yet issued an official statement, this is the project’s third known security breach, following incidents in 2021 and 2023 that totaled millions of dollars.
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