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Balancer Labs to wind down after $116M November hack; protocol to continue under DAO
Balancer Labs will shut down following financial strain and a $116 million exploit in November, while executives propose that the Balancer Foundation and Balancer DAO take over ongoing operations. The team says the company has been running without revenue and spending heavily to attract liquidity, which it says diluted BAL holders. Balancer’s TVL has fallen from a $3.3 billion peak in November 2021 to $158 million, after dropping to $800 million by October 2025 and then sliding another $500 million in the two weeks after the hack.