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.

Update Nov. 3, 9:21 a.m. UTC: This article has been updated to include a section on the Balancer flash loan attack from 2020.

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.

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