Balancer DeFi Hack: Stolen Funds Being Converted to ETH as Theft Surpasses $116.6 Million
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COINOTAG News, on November 4, citing LookIntoChain analytics, reports that the Balancer breach funds are being converted into ETH on-chain. This ongoing activity reflects standard post-exploit patterns observed in DeFi incidents. Earlier industry notes estimated the losses at roughly $116.6 million.
Analysts say on-chain trackers monitor asset flow to gauge liquidity risk and recovery prospects. The conversion into ETH can amplify liquidity dynamics across Balancer pools and affect token stakeholders. Traders should watch official updates while risk controls and governance decisions consider the impact on liquidity providers.
Balancer’s security team and investigators are expected to publish further notes through official channels, clarifying timelines and remediation steps. For readers, maintain wallet hygiene, rely on trusted sources, and avoid unverified claims as the investigation unfolds.