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- Balancer protocol hack steals $116.6 million across multiple blockchains, marking one of the largest breaches.
- The attack on Balancer spreads across Ethereum, Arbitrum, Base, and Polygon, amplifying the impact.
- Crypto hacks in 2025 top $2 billion, highlighting growing risks despite increased security efforts.
Balancer protocol, a decentralized exchange and automated protocol for managing a portfolio, has been attacked, and 116.6 million was stolen. The attack began early in the day, initially embezzling 70.6 million assets from the platform. According to Nansen data, the stolen money consisted of 6,587 WETH, 6,851 osETH, and 4,260 wstETH, which were quickly transferred through numerous blockchain systems.
The subsequent transfer was not the end of the attack. The morning saw further transfers, which contributed to the total amount stolen. The assets were spread among the Ethereum, Arbitrum, Base, sonic, OP, and Polygon networks. This extended the influence of the breach, and it is one of the biggest in recent history.
Balancer Exploit Marks First Major November Hack
This attack is the first significant November hack. It resembles a disturbing pattern of crypto-related breaches. Over 20 attacks occurred in October, stealing over 88 million dollars. These attacks were on centralized exchanges as well as decentralized finance (DeFi) protocols, demonstrating the growing susceptibilities of the crypto industry.
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The October breaches included flash-loan attacks and contract exploits, which allowed hackers to quickly deplete liquidity pools. These attacks indicate the way that hackers evolve and take advantage of the flaws in decentralized systems. This increase in attacks indicates that the security of DeFi platforms is becoming a cause of concern.
Ongoing Crypto Attacks Highlight the Need for Stronger DeFi Security
Hacks in 2025 alone have resulted in $2 billion in cryptocurrency losses. With the current push toward enhancing security, these attacks are increasing. The crypto industry continues to rank highly vulnerable due to the constant emergence of new types of attacks.
The full effects of the Balancer exploit remain to be determined. Investigations are still underway, but it is evident that this breach of privacy may have long-term effects. This attack underscores the enduring security vulnerability of the DeFi industry and the importance of offering enhanced security measures.
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