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Balancer Loses $70 Million in Third Security Breach

coinpaprika.com

8 hour ago

Balancer Loses $70 Million in Third Security Breach

Attackers exploited a flaw in Balancer's "manageUserBalance" function, draining liquidity from V2 vaults. Stolen assets included 6,590 wrapped Ether (WETH), 6,851 osETH, and 4,260 wstETH tokens. Balancer operates over $750 million in total value locked across decentralized liquidity pools.​ Multi-Chain ImpactThe exploit affected Balancer deployments on Sonic, Polygon, and Base blockchains. Forked protocols Beets.fi and Berachain were also compromised due to shared codebase vulnerabilities. Security firms Decurity, HashDit, and Cyvers confirmed the attack through on-chain analysis.​ Third Breach Since 2020Balancer previously suffered exploits in 2020 and 2023. The protocol's native BAL token dropped 5-8% following the breach. Balancer has not issued a statement on recovery or user compensation. The exploit affected Balancer deployments on Sonic, Polygon, and Base blockchains. Forked protocols Beets.fi and Berachain were also compromised due to shared codebase vulnerabilities. Security firms Decurity, HashDit, and Cyvers confirmed the attack through on-chain analysis.​ Third Breach Since 2020Balancer previously suffered exploits in 2020 and 2023. The protocol's native BAL token dropped 5-8% following the breach. Balancer has not issued a statement on recovery or user compensation. Balancer previously suffered exploits in 2020 and 2023. The protocol's native BAL token dropped 5-8% following the breach. Balancer has not issued a statement on recovery or user compensation.

https://coinpaprika.com/news/balancer-hit-70m-exploit-smart-contract-attack/