Crypto Community Divided on DeFi Trust Implications After $128M Balancer Exploit
Experts are debating whether the latest hack shakes confidence in DeFi or is just part of the inherent risks as investors chase higher yields.
Veteran decentralized exchange (DEX) Balancer v2 suffered a major hack on Monday, losing over $128 million and raising questions about whether users can trust even long-established, audited decentralized finance (DeFi) platforms.
On-chain data showed roughly $128 million in digital assets sent to the hacker’s wallet across multiple blockchains, including 6,587 WETH (~$24.5 million), 6,851 osETH (~$26.9 million), and 4,260 wstETH (~$19.3 million), according to PeckShield. This marks Balancer’s largest hack to date.
The losses affected several networks, including Ethereum, Polygon, Base, Arbitrum,…
