Hackers have stolen over $120 million from the DeFi platform Balancer through a security breach involving faulty access controls. Several blockchain platforms responded by freezing funds and halting networks to prevent further losses. #Balancer #DeFiSecurity
Keypoints
- Hackers exploited access control weaknesses to steal over $120 million from Balancer.
- Balancer is investigating the incident and has paused affected pools for recovery.
- Other blockchain platforms like Berachain, Gnosis, and Beefy took emergency measures to protect assets.
- Despite multiple audits, Balancer experienced several minor security incidents prior to this breach.
- Recent crypto thefts, including $10.8 million from Garden Finance, highlight rising DeFi security challenges.
Read More: https://therecord.media/crypto-heist-balancer-exploit