Balancer, a decentralized finance protocol, has possibly been breached. On-chain data has showed that approximately 70.9 million has been moved into a new wallet that has impacted the V2 version of Balancer.
Around 6,850 osETH, 6,590 WETH, and 4,260 wstETH tokens have been drained into another wallet from Balancer’s holdings, CoinDesk reported on Monday, November 3.
As per EtherScan, the transaction was facilitated on Monday at around 07:48 AM UTC.
Source: EtherScan
Balancer, which has over 153,000 followers on X, has neither confirmed nor denied any breach as of now.
As reported by CoinDesk, the apparent exploiter has already begun moving the acquired tokens through decentralized mixers and cross-chain platforms to anonymize the chain of transactions.
The Ethereum-based platform lets users offer liquidity, enable decentralized trading, and facilitate automated portfolio management among other services. The protocol reportedly controls $750 million in value locked. The platform has also been hacked previously in 2021 and 2023.
This is a developing story.