Decentralized exchange and liquidity protocol Balancer has reportedly fallen victim to a major security breach, with losses exceeding $110 million in digital assets. On-chain data indicates that the attack remains ongoing.

This exploit highlights ongoing vulnerabilities in DeFi infrastructure, despite increasing regulatory scrutiny and enhanced security efforts across the sector.

Balancer Exploit Drains Over $110 Million as Attack Continues

According to data shared by Lookonchain on X (formerly Twitter), the attackers transferred roughly 6,587 WETH, worth around $24.46 million, 6,851 osETH, valued at nearly $26.86 million, and 4,260 wstETH, worth approximately $19.27 million, from Balancer to a new wallet.

Hackers Transferring Assets From Balancer. Source: X/Lookonchain

The attack hasn’t stopped yet. Lookonchain reports that losses from the Balancer exploit have already exceeded $110 million.

“Absolutely insane — the total stolen funds from the Balancer exploit have now surged to $116.6 million,” Lookonchain added.

This isn’t the first time the network has faced such an incident. In 2023, bad actors managed to steal around $238,000 worth of crypto assets from the protocol. The Balancer team has not yet issued an official statement regarding the incident.

This is a developing story.