Balancer hit by ongoing exploit, more than $116M in outflows so far

DeFi protocol Balancer is the target of an ongoing exploit, with more than $116 million in staked Ether transferred to a new wallet.

Update Nov. 3, 9:47 am UTC: This article has been updated to add the latest figures, Balancer’s white hat bounty offer and comments from Nicolai Sondergaard, research analyst at Nansen.

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

The decentralized exchange (DEX) and automated market maker (AMM) Balancer has been exploited, with more than $116 million worth of digital assets transferred to a newly created wallet.

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