Is Balancer Safe?
Risk Grade: C- (51/100)
Balancer is rated as elevated risk — multiple novel mechanisms and notable interaction risks.
Elevated risk — $128M exploit in November 2025 was Balancer's third major incident, and vulnerable V2 pools remain active across multiple chains during migration
A decentralized exchange known for customizable pool weights and composable stable pools. It holds $106M in deposits, down 58% from $775M after a $128M exploit in November 2025 caused by a rounding error in its pool math. Its C- grade reflects the severe recent exploit and ongoing migration risk from vulnerable V2 pools.
TVL
$105M
Mechanisms
8
Interactions
5
Value Grade
C+
Key Risks for Balancer Users
A $128M hack in November 2025 exploited a math error in the pool calculations. This was Balancer's third major security incident.
Old V2 pool contracts with known vulnerabilities are still active across multiple blockchains. Your funds may be in these vulnerable pools until migration to V3 is complete.
58% of deposits left after the exploit. If another vulnerability is found, the remaining depositors face concentrated risk.
Top Risk Factors
- •$128M exploit in November 2025 via rounding error in V2 composable stable pool invariant calculation. The largest DEX exploit in DeFi history at that scale.
- •58% TVL collapse post-exploit ($775M to $258M) signals deep erosion of protocol trust and institutional confidence.
- •Multi-chain V2 pools remain vulnerable until fully migrated to V3. Legacy pool exposure persists across multiple chains.
Risk Score Breakdown
Balancer's highest risk area is Track Record (15/15). Here's how each dimension contributes to the overall 51/100 score:
Read the Full Balancer Risk Report
This protocol has 2 collapse scenarios. 2 critical and 1 high-severity interaction risks identified. See the full mechanism classification, interaction matrix, and deep-dive recommendations.
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