Balance Coin, an algorithmic stablecoin built on BNB Chain, lost more than 99% of its value on July 22, 2026, after an attacker manipulated a price oracle and drained roughly $912,000 in bitcoin-backed collateral from vaults controlled by 42DAO, the protocol’s governing organization. Security firms Peckshield and Slowmist confirmed the exploit within hours of the…
Balance Coin, an algorithmic stablecoin built on BNB Chain, lost more than 99% of its value on July 22, 2026, after an attacker manipulated a price oracle and drained roughly $912,000 in bitcoin-backed collateral from vaults controlled by 42DAO, the protocol’s governing organization. Security firms Peckshield and Slowmist confirmed the exploit within hours of the […]
Source: https://news.bitcoin.com/another-stablecoin-bites-the-dust-as-blc-crashes-from-1-to-near-worthless/
