Balancer, a decentralized finance (DeFi) protocol with a locked value of over $750 million, appears to have been hit with 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 appear to impact Balancer version 2 (V2).
The operator address has already begun consolidating assets, raising concerns about potential laundering via decentralized mixers or cross-chain bridges.
Balancer’s BAL token has fallen more than 5% since its peak on Monday, according to CoinGecko data.
The team has yet to release an official statement, although this is the project’s third known security breach, following incidents in 2021 and 2023 that collectively cost millions.
