Balancer hit by suspected $70M exploit as staked Ether tokens sent to new wallet

Balancer may have suffered a $70 million DeFi exploit, as millions in staked Ether were transferred to a new wallet, reigniting concerns over protocol security.

Decentralized exchange (DEX) and automated market maker (AMM) Balancer may have suffered an exploit, as about $70 million worth of digital assets was transferred to a freshly created wallet.

Onchain data shows that the decentralized finance (DeFi) protocol saw $70.9 million worth of liquid staked Ether (ETH) tokens transferred to a fresh wallet across three transactions, according to Etherscan logs.

The transfers included 6,850 StakeWise Staked ETH (OSETH), 6,590 Wrapped Ether (WETH) and 4,260 Lido wstETH (wSTETH), crypto intelligence platform Nansen said in a Monday X post.

Read more