Balancer Exploited: $116 Million Swiped, Ethereum Becomes Target

A major vulnerability in Balancer’s smart contract interactions has led to a significant exploit, wiping out over $116 million across various blockchain networks. The attacker swiftly converted stolen tokens into Ethereum (ETH) while the platform struggles to regain control. This incident highlights the inherent risks of decentralized finance (DeFi) platforms despite their promise of accessibility and transparency.