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Check out the v.219 Awake: Flicker of Light Patch Notes here!
Actual Admin Balloon Spawn Times?
Checked the towns mentioned in the patch notes at the start of every hour and I have not seen a single one spawn. I even camped several minutes before the scheduled spawn times with no one else entering or in map, so I doubt it's cause players are killing them before I can see.
I do recall killing one a few weeks back, so I know they exist.