The Edge Series: Market Intelligence #34
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1. @Balancer Exploited for $129M Across Seven Networks
Balancer suffered a $129M exploit, affecting pools across @Ethereum, @Arbitrum, @base, @Optimism, @0xPolygon, @SonicLabs, and @berachain.
The breach was traced to a faulty access control in the “manageUserBalance” function of Balancer V2 vaults, which allowed attackers to execute unauthorized withdrawals through the UserBalanceOpKind.WITHDRAW_INTERNAL operation.
Stolen assets included 6,850 osETH, 6,590 WETH, and 4,260 wstETH. The main exploiter wallet now holds approximately $100M, comprising 63.98% WETH, 26.92% osETH, and 9% wstETH, with two smaller addresses containing $13.5M and $3.7M.
Forked protocols such as and Berachain were also hit, losing over $3M collectively.
$BAL dropped roughly 5% within hours as Balancer confirmed an investigation.
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The Edge Series: Market Intelligence #33
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1. @HyperliquidX launches NASDAQ futures, $HYPE surges 36%
XYZ100 perp DEX, launched by @sershokunin and @hyperunit, is the first permissionless, builder-deployed equity market on Hyperliquid.
XYZ100 generated $63M in volume and $15M in open interest within 48 hours, outpacing all previous RWA perp DEX launches. The addition of 24/7 trading for equities including $NVDA, $PLTR, and $TSLA expands Hyperliquid’s scope beyond crypto-native assets.
$HYPE broke through major resistance at $44 after bouncing from its 200-day EMA near $40. Protocol revenue remains strong at $1.29B in annualized fees and $1.15B in revenue.
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2. @Berachain Halts to Patch @Balancer Exploit; $BERA Dops to $1.69
Berachain halted its blockchain after a BalancerV2 exploit impacted its BEX exchange. Validators coordinated a planned halt to allow an emergency hard fork that will patch the BalancerV2 vulnerability affecting multiple DeFi protocols.
The halt came shortly after the team paused $HONEY minting and BEX vaults as precautionary measures.
$BERA fell 5.2% over the past week to $1.69, though most of the decline predated the announcement. The token has dropped 39.5% over the past 30 days and trades 88.6% below its February 2025 peak of $14.83.
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