Balancer Hit By $70.6 Million Exploit In Latest Defi Security Breach
- 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.
- The post Balancer Hit by $70.6 Million Exploit in Latest DeFi Security Breach appeared first on BeInCrypto.
What Happened
Decentralized exchange and liquidity protocol Balancer has reportedly suffered a major security exploit, resulting in the loss of approximately $70.6 million in assets.
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.
The post Balancer Hit by $70.6 Million Exploit in Latest DeFi Security Breach appeared first on BeInCrypto.
Market Context
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.
This is a developing story.