Balancer Hit With $120M Exploit, Triggering DeFi Market Disruption

A significant exploit of the Balancer decentralized exchange protocol has resulted in a substantial loss of over $120 million and widespread disruption across the DeFi market. This incident exposed critical technical flaws, causing asset depegging and cascading effects throughout various DeFi platforms. 20% bounty is being offered for assistance in recovering funds. The exploit has led to a significant decrease in the value of crypto assets and triggered contagion within DeFi ecosystems. Affected protocols like Euler and Morpho have been impacted, with lenders experiencing pressure on their collateralized holdings.