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The Berachain-based project, Berally, posted on its official X page, revealing that a hacker had breached its defenses and successfully made off with vested tokens from their liquidity pool. The project refrained from divulging the exact quantity of tokens drained by the hacker. However, in the aftermath of the hack, they provided guidelines for users to follow.
“Looks like we’ve been hacked,” the post from Berally divulged. “Something from our deployer key on our end was leaked, resulting in all vesting tokens being dumped and drained from the liquidity pool.” The post clarified that the dApp contracts were not impacted by the hack and remain secure. Nonetheless, Berally was quick to advise users to revoke access from the dApp and Staking, while their team unravels the situation.
“We are actively investigating the incident and will provide updates as soon as possible,” the post concluded. In a subsequent post, users were cautioned against any interaction with the Berally token for the time being. The post’s comment section quickly filled with disgruntled netizens expressing their displeasure over the incident.
The suspected cause of the exploit, a loss of private keys by the developers, prompted inquisitive queries from one user. The X account handler offered an apology in response, acknowledging their mistake and attributing it to a “skill issue.”
A builder on Berachain provided his own perspective on the situation, suggesting the Berally team take snapshots by block before the hacker, re-airdrop, and accept the loss of $90k. “Or you can even only buy the token back and cover this 90k,” they added. The user further stated that the Berally team had repeatedly been warned about its “several vulnerabilities” but the exploit occurred due to a “dev leaked the key.”
Online speculation amongst users suggested that the exploit was an inside job and a potential scam. The co-founder of Berachain, Smokey, took to X to announce the hack, his post preceding the official announcement by Berally. He urged users to exercise caution, expressing concerns over a potential exploit.
Berachain, an EVM-identical Layer 1 blockchain that employs the Proof of Liquidity (PoL) consensus mechanism, launched its mainnet on February 6, 2025. Its native token, BERA, achieved an all-time high of $14.99 on the launch day. However, the value was short-lived as profit-taking from those who received the airdrop (15.8% of the total 500 million supply) along with market uncertainty, led to a sharp decline, sinking BERA to a low of $4.74 within days. Mid-February saw a degree of price stabilization, with values fluctuating between $6.04 to $6.20.
Berachain has faced criticism over its constant sell pressure, largely attributed to concerns about tokenomics. Reports indicate that Berachain sold over 35% of BERA supply to private investors across numerous funding rounds. Extensive vesting schedules also contribute to the continual sell pressure. Berachain’s struggle with price stability is also raising investor concerns. Unlike Hyperliquid, which has consistently upheld its gains, Berachain is now battling to demonstrate its long-term value beyond the initial hype.
