Balancer Protocol Suffers $128 Million Hack Despite Extensive Audits
Balancer Protocol Suffers $128 Million Hack Despite Extensive Audits
The Balancer protocol, long considered a reliable institution in decentralized finance, experienced a significant $128 million exploit on November 3rd. Reported by blockchain security firm PeckShield, the attack affected Balancer and several of its forks across multiple chains, challenging its previously unblemished credibility. This incident underscores the persistent security risks within the DeFi ecosystem, even for protocols that have undergone numerous audits and survived various market conditions.
For years, Balancer stood as one of DeFi’s most reliable institutions, a protocol that had survived several bear markets, audits, and integrations without scandal. However, that credibility collapsed on Nov. 3, when the blockchain security firm PeckShield reported that Balancer and several of its forks were under an active exploit spreading across multiple chains. Within […]
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