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12h ago

Balancer V2 Exploited, Up to $110 Million Drained as Attacker Consolidates Funds

Security firms attribute the breach to a faulty access-control path in the protocol’s core vault logic.

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$128M Balancer hack drains six blockchains, forces Berachain network fork
Balancer protocol drained of $116m in ongoing cyberattack
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Overview

  • Investigators report three attacker-linked wallets now hold roughly $117 million, with consolidation on-chain but no mixer or exchange cash-outs observed.
  • Early analysis identifies an access-control flaw in Balancer V2’s manageUserBalance and validateUserBalanceOp that enabled unauthorized internal withdrawals.
  • Forked projects were drawn into the fallout as Beets.fi/Beethoven X confirmed impact and Berachain paused liquidity mining due to shared code.
  • The BAL token fell about 5% following disclosure, according to CoinGecko data.
  • Balancer had not issued an official statement at press time as security teams monitored flows and evaluated exposure at V2-dependent services with over $60 million locked.