Summary
- It reported signs that assets, including about $70 million worth of staking Ethereum (ETH), were transferred from Balancer to a new wallet.
- Blockchain analytics and security firms warned that the hacking damage could reach up to $116 million.
- It said Balancer has recently experienced consecutive security incidents and asset thefts.
Balancer (BAL), a decentralized exchange (DEX) and automated market maker (AMM), is estimated to have suffered a hack of about $70 million.
On the 3rd (local time), Cointelegraph reported that about $70.9 million worth of staking Ethereum (ETH) moved from Balancer-related addresses to a newly created wallet. According to Etherscan records, the transaction occurred in three transfers and included △ 6,850 StakeWise staking ETH (OSETH) △ 6,590 wrapped ETH (WETH) △ 4,260 Lido wstETH.
Blockchain analytics firm Nansen pointed out, "All assets were transferred to a single new wallet," adding that "it is highly likely a hack occurred." Security firm Cyvers also warned that "suspicious transactions amounting to $84 million were detected across multiple chains associated with Balancer."
Some analyses suggest the scale of the hack may be larger. Lookonchain said on X (formerly Twitter), "Balancer's hacking damage has been confirmed at $116 million."
Balancer has not yet issued an official statement, but the industry views a hack as likely given signs of assets leaving across multiple chains.
Meanwhile, Balancer has experienced successive security incidents in recent months. In September, a hacker attacked Balancer's official website domain name system (DNS), redirecting users to a phishing site and stealing about $238,000 worth of assets. Additionally, in August, about $1 million worth of stablecoins were stolen just one week after a 'critical vulnerability' in some liquidity pools was disclosed.
Son Min
sonmin@bloomingbit.ioHello I’m Son Min, a journalist at BloomingBit
