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Crypto Disaster: Balancer Protocol Loses $116 Million!
On November 3, 2025, the Balancer protocol was robbed of $116 million in a cyberattack, increasing security concerns in the DeFi space.
Crypto Disaster: Balancer Protocol Loses $116 Million!
On November 3, 2025, the Balancer Protocol was the victim of a significant cyberattack in which over $116 million was stolen. This represents the first major crypto hack in the month of November and comes at a time when security concerns within DeFi protocols persist despite increased scrutiny and monitoring. The incident follows a troubling month of October in which more than $88 million was stolen across approximately 20 separate incidents. Overall, losses in 2025 will amount to over $2 billion, underscoring pressing security issues in the sector, Crypto.news reports.
The attack on the Balancer protocol began with the siphoning of around $70.6 million in assets. The stolen assets included 6,587 WETH, 6,851 osETH, and 4,260 wstETH, which were quickly moved in a series of transactions. The transfers continued into the morning, bringing the total amount of theft to $116.6 million. The vulnerabilities affected multiple networks, including Ethereum, Arbitrum, Base, Sonic, OP and Polygon, illustrating the complexity and scale of the incident.
Constant threats in the crypto world
The ongoing investigation into this attack shows that the full impact on Balancer and its users is not yet fully understood. This breach continues a worrying trend that saw numerous protocols suffer from flash loan manipulation and contract vulnerabilities in October that allowed hackers to quickly clear out liquidity pools.
This growing number of security incidents highlights the ongoing threat to crypto security, even as significant efforts are being made to improve security measures and conduct audits. November's developments could set new standards for security in the crypto world as users and developers prepare to more forcefully counter potential attacks.