Decentralized exchange and liquidity protocol Balancer has reportedly suffered a major security exploit, resulting in the loss of approximately $70.6 million in assets.
This isn’t the first time the network has faced such an incident. In 2023, bad actors managed to steal around $238,000 worth of crypto assets from the protocol.
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Balancer Loses Over $70 Million in Reported Exploit
According to on-chain data shared by Lookonchain on X, the latest exploit involved the transfer of roughly 6,587 WETH (around $24.46 million), 6,851 osETH (around $26.86 million), and 4,260 wstETH (around $19.27 million) from Balancer-related liquidity pools, totaling about $70.6 million in digital assets.
This is a developing story.
