How 11 audits couldn’t stop Balancer’s $128 million hack redefining DeFi risks

For years, Balancer stood as one of DeFi’s most reliable institutions, a protocol that had survived several bear markets, audits, and integrations without scandal. However, that credibility collapsed on Nov. 3, when the blockchain security firm PeckShield reported that Balancer and several of its forks were under an active exploit spreading across multiple chains. Within hours, more than $128 million was gone, leaving a trail of drained pools, frozen protocols, and shaken investors. PeckShield data showed the platform’s protocol on Ethereum suffered the heaviest losses of about $100 million. Berachain followed with $12.9 million, while Arbitrum , Base, and smaller...