Balancer Breach: Over $70M in ETH Tokens Stolen
On November 3, blockchain analytics firms flagged a major Balancer breach on the Ethereum DeFi protocol. The Balancer breach drained over $70.9M in WETH, osETH and wstETH via a suspected smart contract exploit or flash-loan attack. The Balancer team has not released an official statement, fueling uncertainty.
Security firms Nansen, PerkShield and Lookonchain are tracing the stolen assets. The BAL token plunged over 11%, while PENGU fell by 12%. Traders should avoid new positions until Balancer confirms deposit safety. This incident highlights persistent DeFi vulnerabilities and underlines the need for rigorous code audits, transparent governance and stronger risk management.
Bearish
The Balancer breach has triggered immediate selling pressure on BAL and related tokens, with over 11% and 12% declines observed. Short-term market sentiment is bearish as traders await clarity on deposit safety. Without an official statement or fix, long-term confidence in Balancer’s smart contract security remains challenged. Historical DeFi hacks show that unresolved vulnerabilities can prolong price weakness and deter new capital inflows, reinforcing a cautious trading outlook.