Balance Coin drops over 99%, 42DAO reportedly hit by $915,000 exploit
2026-07-22 03:19
Odaily Planet Daily News The algorithmic stablecoin Balance Coin has dropped from $0.9954 to $0.001358, a decline of over 99%. This stablecoin is the native algorithmic stablecoin of the Balance Protocol, designed to maintain a peg to the US dollar.
Blockchain security company PeckShield stated that the depegging occurred after the decentralized autonomous organization 42DAO, which governs the Balance Protocol and its BLC token, suffered a $915,000 exploit. TenArmor reported detecting a suspicious attack on BNB Chain involving GemJoin and 42DAO.
Blockchain security company PeckShield stated that the depegging occurred after the decentralized autonomous organization 42DAO, which governs the Balance Protocol and its BLC token, suffered a $915,000 exploit. TenArmor reported detecting a suspicious attack on BNB Chain involving GemJoin and 42DAO.
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