Lookonchain reports a dormant wallet withdrew $6.5M amid the attack.
Balancer, a decentralized finance protocol, has recently suffered a major security breach.
According to blockchain analytics firm Nansen, the platform was exploited, with around $70.9 million in assets moved to a new wallet. The transferred tokens included 6.85K OSETH, 6.59K WETH, and 4.26K wSTETH.
However, According to Peckshield, a blockchain security and analytics firm, the total losses across multiple chains has now reached roughly $128.64 million. The breakdown shows the largest losses on Ethereum ($99 million), followed by Berachain ($12.86 million), Arbitrum ($6.86 million), Base ($3.9 million), Sonic ($3.44 million), Optimism ($1.58 million), and Polygon ($232,000).
Meanwhile, Lookonchain reported that a large wallet which had been inactive for three years, suddenly became active following the Balancer hack.
The wallet holder quickly withdrew around $6.5 million from the platform in response to the ongoing attack. Lookonchain also warned other users with funds still on Balancer to act immediately and secure their assets.
The Balancer team has also acknowledged the potential exploit impacting Balancer v2 pools.
It shared that its engineering and security teams are actively looking into the issue as a top priority. Balancer also assured users that it will share verified updates and guidance once more information becomes available.
Investor Ted Pillows warned users to stay cautious and avoid interacting with the affected pools until the situation is resolved.
This is not the first time Balancer faced a breach.
In 2020, hackers manipulated token balances using repeated swaps, exploiting how Balancer handled deflationary tokens where around $500,000 worth of assets were drained from the protocol’s pools. In 2023, Balancer’s boosted pools were exploited, resulting in around $900,000 in losses.
Nevertheless, the latest attack stands out as Balancer’s biggest hack yet and one of the largest DeFi exploits of 2025.
This incident highlights that DeFi platforms remain vulnerable, even with growing oversight and better security systems in place.
Following the news of the exploit, Balancer’s governance token (BAL) saw a sharp decline, dropping over 8% in the past 24 hours to around $0.91.
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