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