$20,700,000 in Crypto Recovered After Ethereum-Based Protocol Balancer Suffers $128,640,000 Hack
The liquid staking platform StakeWise has recovered about 16% of the assets that hackers just stole from the decentralized finance (DeFi) protocol Balancer.
In an update describing the attack, Balancer says it suffered a security breach affected the protocol’s V2 Composable Stable Pools.
“Because these pools have been live onchain for several years, many were outside the pause window. Any pools that could be paused have been paused and are now in recovery mode.
All other Balancer pools are unaffected. This issue is isolated to V2 Composable Stable Pools and does not impact Balancer V3 or other Balancer pools.”
The blockchain security firm PeckShield says the incident cost $128.64 million in losses across multiple chains.
StakeWise, issuer of some of the assets, says it managed to recover about $20.7 million of the stolen funds.
“[S]takeWise DAO emergency multisig has executed a series of transactions, recovering ~5,041 osETH (~$19M) and 13,495 osGNO (~$1.7M) tokens from the Balancer exploiter.
On Ethereum mainnet, this represents 73.5% of the ~6,851 osETH stolen earlier today and is as much as we could recover due to the attacker promptly converting the missing portion of the stolen assets into ETH.”
StakeWise says the assets taken back from the attackers will be returned to affected users and will be distributed pro-rata based on pre-exploit balances.
Featured Image: Shutterstock/TogsDesign/Sensvector
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
XRP News Today: Rising Number of XRP Wallets Sparks Optimism for Crypto Summer as Institutions Increase Investments
- XRP sees 21,595 new wallets in 48 hours, Santiment's largest surge in eight months, as price rebounds from $2.2 support. - Technical indicators show bullish RSI divergence and potential reversal patterns, with $2.6 resistance as key hurdle. - Ripple's $500M institutional investment and Mastercard-led RLUSD integration boost XRP's institutional adoption and regulatory clarity. - Ethereum's ecosystem expansion and potential XRP ETF listings amplify crypto summer optimism amid Fed's QE expectations.
Zinc's Decline: An Early Warning Sign for the Crypto Industry
- Digital asset treasuries face sharp sell-offs as investor confidence wanes, with the S&P GSCI Zinc Index dropping 1.56% on Nov 5, 2025. - The zinc index's volatility mirrors crypto market declines, signaling a shift to safer assets amid regulatory uncertainty and macroeconomic pressures. - SEC actions against crypto platforms have intensified market jitters, with analysts warning of cascading liquidations if declines persist. - Zinc's performance now serves as a key barometer for digital asset risk, refl
Dogecoin News Today: Dogecoin's Unstable Buzz Fades as ETFs Turn Attention to Alternative Coins
- Dogecoin (DOGE) hovers near $0.15704, with analysts warning a breakdown could trigger sharp declines amid waning retail and institutional interest. - On-chain data and derivatives metrics signal deteriorating sentiment, as Bitcoin/Ethereum ETF outflows shift capital toward altcoins like Solana . - Weak large-holder support and declining community-driven hype expose DOGE to volatility, with prices at risk of falling below $0.15 without fundamental catalysts.
Chainlink and SBI Join Forces to Integrate Blockchains and Boost Institutional Adoption of Tokenized Assets
- Chainlink partners with SBI Digital Markets to build cross-chain digital asset solutions using CCIP technology. - Collaboration aims to accelerate institutional adoption of tokenized assets via secure multi-chain operations and existing pilots with UBS . - CCIP addresses blockchain interoperability challenges, positioning SBI Group as a key player in Japan's regulated digital asset market. - Recent partnerships with Ondo Finance highlight growing demand for cross-chain infrastructure in tokenized real-wo
Trending news
MoreCrypto prices
More
