Balancer Hack: Over $116 Million Lost in Massive DeFi Breach

The decentralized finance (DeFi) sector suffered another major blow on November 3, 2025, when one of its most recognized protocols — Balancer — fell victim to a large-scale hack that drained over $116.6 million across multiple blockchains.

How the Attack Happened According to blockchain analytics platform Lookonchain, the attack began with a coordinated withdrawal of funds from Balancer Vaults.

Experts believe the hacker exploited a flaw in access control within upgraded Balancer pools using Ether-based derivatives (ETH). The Ethereum mainnet took the biggest hit, losing over $116 million, followed by smaller incidents on Base, Polygon, Arbitrum, Optimism, and Sonic networks. The stolen assets included:

🔹 6,587 WETH (~$24.46 million)

🔹 6,851 osETH (~$26.86 million)

🔹 4,259 wstETH (~$19.27 million)

The Breach Spread Beyond Balancer Losses were also reported by Beets, a forked version of Balancer operating on the Sonic network. This indicates the hacker targeted a shared vulnerability in the underlying codebase used across both platforms.

On-chain data shows the stolen funds were funneled through Balancer’s vault contracts to the wallet 0x506D19…AE03207, then swapped across multiple contracts — a common money-laundering technique in DeFi.

Community Reaction Security firms PeckShield and Lookonchain quickly confirmed the attack and urged users to take immediate action: “Revoke all approvals linked to Balancer until the situation is fully resolved.” On Balancer’s official Discord, moderators also warned users to avoid interacting with new pools or unverified smart contracts for the time being.

Broader Impact on DeFi This incident reignites concerns about smart contract vulnerabilities and the resilience of decentralized exchanges.

With losses surpassing $116 million, it marks one of the largest DeFi hacks of 2025, likely prompting another wave of security audits and stricter risk standards across the ecosystem.

#defi , #CryptoSecurity , #HackAlert , #cryptohacks , #CyberSecurity

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