DeFi protocol Balancer potentially exploited as onchain data shows millions in outflows
DeFi protocol Balancer appears to have suffered an exploit, with roughly $88 million in assets drained from its vaults, according to security firm PeckShield.Etherscan transaction logs show large, unusual transfers from Balancer’s “0xBA1...BF2C8” address to an external wallet. The outflows included about 6,587 WETH ($24.5 million), 6,851 osETH ($26.9 million), and 4,260 wstETH (~$19.3 million) — altogether suggesting that tens of millions in assets have been moved out of the protocol’s vaults.PeckShield said the attack remains ongoing across multiple chains where Balancer is deployed, with estimated losses now nearing $88 million.While Balancer's team has yet to issue a statement, early onchain indicators point to a potential exploit or unauthorized withdrawal rather than a routine liquidity migration. Multiple blockchain analytics providers, including Nansen, also flagged the transactions as suspicious.Balancer is a decentralized exchange and automated portfolio manager built on Ethereum that allows users to trade tokens and provide liquidity through self-balancing pools. The protocol, which has been active since 2020, holds over $350 million in total value locked on Ethereum alone, according to The Block's data dashboard.Following chatter about the possible onchain theft, the price of Balancer's native token BAL fell by over 4%, according to The Block’s price page.This is a developing story.Disclaimer: The Block is an independent media outlet that delivers news, research, and data. As of November 2023, Foresight Ventures is a majority investor of The Block. Foresight Ventures invests in other companies in the crypto space. Crypto exchange Bitget is an anchor LP for Foresight Ventures. The Block continues to operate independently to deliver objective, impactful, and timely information about the crypto industry. Here are our current financial disclosures.© 2025 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.