Balancer Faces Suspected $70M Exploit in DeFi Protocol

A potential $70 million exploit targeting the decentralized exchange (DEX) Balancer is raising alarms within the crypto community. Onchain data reveals a significant transfer of approximately $70.9 million worth of staked Ether (ETH) from Balancer-related addresses to a newly created wallet, potentially signifying a major security breach. Blockchain analytics firm Cyvers estimates this amount could escalate to up to $84 million across multiple chains. While Balancer has yet to release an official statement or incident report, the platform’s community is closely monitoring for potential impact and user activity is being scrutinized.