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 protocols governing organization. Security firms Peckshield and Slowmist confirmed the exploit within hours of the []
Another Stablecoin Bites the Dust as BLC Crashes From $1 to Near Worthless
Bitcoin.com - 22 Jul 2026 20:11
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 protocols governing organization. Security firms Peckshield and Slowmist confirmed the exploit within hours of the []
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