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Monday Nov 3 2025 09:00
2 min
Balancer, a decentralized exchange (DEX) and automated market maker (AMM), is under scrutiny following reports of roughly $70 million worth of digital assets being transferred to a newly created wallet. On-chain data indicates that the decentralized finance (DeFi) protocol saw around $70.9 million worth of liquid staked Ether (ETH) tokens moved 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 noted. While Balancer has yet to confirm the breach, the millions flowing into the fresh cryptocurrency wallet suggests the transfers occurred due to a security compromise. Blockchain security firm Cyvers estimated that up to $84 million in suspicious transactions across multiple chains related to Balancer were involved.
This comes two months after Balancer suffered a domain name system (DNS) attack on its front-end website, as announced on September 20th. Hackers redirected the website’s users to a phishing website associated with malicious smart contracts aiming to steal user funds. Approximately $238,000 worth of digital assets were stolen during that phishing attack, according to blockchain investigator ZachXBT. Earlier in August, Balancer also experienced a nearly $1 million stablecoin exploit, a week after the protocol disclosed a “critical vulnerability” related to some liquidity pools.
These recurring incidents underscore the pressing need for robust security measures within the decentralized finance (DeFi) space. Investors and users should exercise caution and conduct thorough research before engaging with any DeFi protocols, remaining cognizant of the inherent risks within this rapidly evolving sector.
Risk Warning: This article represents only the author’s views and is provided for informational purposes only. It does not constitute investment advice, investment research, or a recommendation to trade, nor does it represent the stance of the Markets.com platform. When considering shares, indices, forex (foreign exchange), and commodities for trading and price predictions, remember that trading CFDs involves a significant degree of risk and may not be suitable for all investors. Leveraged products can result in capital loss. Past performance is not indicative of future results. Before trading, ensure you fully understand the risks involved and consider your investment objectives and level of experience. Trading cryptocurrency CFDs and spread bets is restricted for all UK retail clients.
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