Why Balancer Lost $120M While Better Incentive Design Could Have Changed Everything

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Hackernoon 2 hours ago 133

On November 3, 2025, Balancer lost over $120 million in one of the largest DeFi breaches of the year. Attackers exploited a rounding direction error that had existed in the code for years. Users could only watch as their funds drained or race each other to the exit.

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