Balance Coin crashes 99% after reported $915K exploit
Summary
Balance Coin, the algorithmic stablecoin of Balance Protocol, has collapsed by more than 99% after a reported exploit. It is now trading around $0.001358, down from about $0.9954. Blockchain security firm PeckShield said the depeg followed a $915,000 exploit of 42DAO, the decentralized autonomous organization that governs Balance Protocol and its BLC token. TenArmor also reported a suspicious attack involving GemJoin and 42DAO on BNB Chain.
