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The Return of Cryptocurrencies: $20 Million Secured After Balancer Hack!
StakeWise has recovered $20.7 million from the Balancer hack, recovering 16% of the stolen assets.
The Return of Cryptocurrencies: $20 Million Secured After Balancer Hack!
On November 5, 2025, numerous media outlets reported on a major security incident that affected the DeFi protocol Balancer. Blockchain security firm PeckShield analyzed the incident and estimated losses at approximately $128.64 million across multiple blockchains.
However, liquid staking platform StakeWise was able to recoup some of these losses by recovering approximately $20.7 million of the stolen funds. This represents around 16% of the total amount lost due to the hacker attack. StakeWise announced that the organization carried out a series of transactions that allowed it to recover about 5,041 osETH, worth approximately $19 million, and 13,495 osGNO, equivalent to approximately $1.7 million, from the attacker.
Security incident at Balancer
The attacks were primarily directed against Balancer's V2 Composable Stable Pools. Some of these pools were no longer in pause mode due to their long running time, which may have contributed to the vulnerability. However, in response to the incident, all pauseable pools were stopped and are now in recovery mode, while other Balancer pools were not affected by the hack.
In the recovery effort, it was found that the attacker quickly converted the stolen assets into ETH, making it difficult to trace and recover the funds. Nevertheless, the portion of osETH recovered represents 73.5% of the 6,851 osETH previously stolen on the Ethereum main chain.
Distribution of recovered funds
The recovered assets are intended to be returned to affected users on a pro-rata basis based on pre-incident balances. StakeWise has taken an important step towards compensating users and is receiving positive attention in the crypto community as a result.
The incident and subsequent recovery attempts are a stark example of the challenges facing DeFi platforms and highlight the need for robust security measures within the sector.
For more details on this event, read the full article on Daily Hodl.