Balancer Suffers $116.6M Attack Across Multiple Chains, Historical Losses Exceed $21M

DeFi protocol Balancer is under attack with losses exceeding $116.6 million across multiple chains as of Nov. 3, on-chain AI analysis tool CoinBob data show. The protocol has experienced multiple security incidents since 2020, including a June 2020 flash loan attack that exploited deflationary token compatibility issues and resulted in $523,600 in losses. In August 2023, Balancer V2 pools suffered flash loan attacks totaling $2.1 million due to code vulnerabilities. Additional incidents include a September 2023 frontend hijacking attack causing $238,000 in losses, an $11.9 million impact from the Euler Finance exploit affecting the bbeUSD pool, and a $6.8 million loss related to the Velocore attack involving Balancer-style CPMM pools in 2024.