Balancer V2Micro-cap

Balancer V2 receives a C- risk grade (52/100) from Hindenrank, where lower scores indicate lower risk. High risk — legacy DEX with catastrophic exploit history ($128M in 2025), immutable contracts across multiple chains, and incomplete migration to V3 leaving residual exposure Balancer V2 is the legacy version of the Balancer decentralized exchange, still running across multiple blockchains with $74M in deposits. It allows flexible pool designs with custom asset ratios. However, V2 suffered a devastating $128M exploit in November 2025 from a math error in its stable pool code, causing over half its TVL to flee. V2 is being phased out in favor of V3, but legacy pools remain live and carry elevated risk.

The key risks identified for Balancer V2 are: (1) Balancer V2 was exploited for $128M in November 2025 — the largest DEX hack at its scale. The same codebase still runs on multiple chains. While the specific bug was in composable stable pools, the V2 code is aging and may harbor additional undiscovered issues (2) V2 contracts cannot be upgraded. If another vulnerability is found, the only option is to migrate liquidity — which takes time and coordination across multiple chains. Your funds may be at risk during that window (3) V2 is being replaced by V3, which means development attention and security resources are shifting away. Remaining V2 pools may not receive the same security scrutiny going forward

Balancer V2 scores 52/100 across eight risk dimensions: Mechanism Novelty: 0/15, Interaction Severity: 18/20, Oracle Surface: 2/10, Documentation Gaps: 5/10, Track Record: 15/15, Scale Exposure: 3/10, Regulatory Risk: 2/10, Vitality Risk: 7/10. The highest risk area is Track Record at 15/15.

Among 111 rated DEX protocols on Hindenrank, Balancer V2 ranks #108 by safety (lowest risk score = safest). Its 52/100 risk score and C- grade place it among the riskier DEX protocols.

Balancer V2 scores 15/15 on the Track Record risk dimension, indicating some history of security incidents or exploits. Higher scores reflect more severe or frequent incidents. Review the full risk report for details.