Massive DeFi Hack! $116.6 Million Stolen from Balancer-Are We Safe Anymore?

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Well, well, well, what do we have here? Another day, another DeFi disaster. This time, it’s Balancer, a so-called “secure” decentralized finance protocol, which got absolutely drained for a whopping $116.6 million on November 3, 2025. Yes, you read that right: $116.6 million. Someone definitely woke up and chose chaos.

The attack hit hard, with a particular focus on osETH, WETH, and wstETH. Looks like someone’s been shopping on the blockchain and didn’t even bother to pay! 🙄

So, you’re probably wondering: how did this hacker manage to pull this off? Buckle up, here’s the scoop:

How the Balancer Hack Happened? Spoiler: It Wasn’t Pretty

According to Lookonchain, the trusty folks over at on-chain analytics, the hack began with a massive outflow of funds from Balancer Vaults. Apparently, the hacker decided to take advantage of a sneaky little vulnerability in Balancer’s boosted pools, which use Ether-based derivatives. One small glitch in the system, and BAM, $116.6 million is gone. Don’t you just love it when that happens?

And, as if one blockchain wasn’t enough, this attack spread like a bad rash. Ethereum, Base, Polygon, Arbitrum, Optimism, and even Sonic networks got a taste of the hacker’s fury. 💥

The transfers involved major assets-because, of course, they did. Who wouldn’t want to steal 6,587 WETH ($24.46 million), 6,851 osETH ($26.86 million), and 4,259 wstETH ($19.27 million)? Talk about hitting the jackpot! 🎰

But Wait, There’s More… Impact Beyond Balancer

But the fun didn’t stop there. Oh no. It seems like the hacker didn’t just settle for Balancer itself. Beets, a forked version of Balancer on the Sonic network, also reported losses. It’s almost like the hacker found a vulnerability in the shared codebase. You know, the one that connects the liquidity infrastructure? The hacker was basically on a multi-network tour. 🌍

The stolen funds then made their way through Balancer’s vault contracts to a single wallet (0x506D19…AE03207, for those who like to follow the breadcrumbs) before being swapped around like hot potatoes in some shady decentralized exchanges.

So, What’s the Plan Now? (Spoiler: Not Much)

Blockchain security firm PeckShield was quick to confirm the breach and advised everyone to revoke Balancer-related approvals, basically telling us all to panic, but in a more professional way. Lookonchain, of course, tracked the stolen funds and showed how the hacker shuffled them around like a game of financial Tetris. 🙃

And yet, as of now, Balancer has remained eerily silent. No official statement, nada. Meanwhile, the Discord mods are out here warning users to avoid interacting with any “suspicious” contracts or new liquidity pools, which basically translates to: “Don’t touch anything until further notice, okay?” 😬

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2025-11-03 13:41