Overview
- Balancer confirmed its V2 Composable Stable Pools were exploited, placed pausable pools into recovery mode, and said V3 and other pool types were unaffected.
- On-chain tallies put losses between $116 million and $129 million across Ethereum, Berachain, Arbitrum, Base, Sonic, Optimism, and Polygon, with large holdings in WETH, osETH, and wstETH.
- Berachain validators purposefully halted the network and executed an emergency hard fork to address the Balancer V2–related drains.
- Investigators report the exploiter is converting stolen staking derivatives into ETH as security firms track wallets and flows across bridges and mixers.
- Balancer offered the attacker a 20% white-hat bounty, and StakeWise said roughly $19 million in osETH and $1.7 million in osGNO tied to the incident were recovered for users.