Stabelcoin Balance Coin Crashes 99% After Reported $915K Exploit
Balance Coin fell more than 99% after blockchain security firms linked the stablecoin’s collapse to a reported $915,000 exploit involving 42DAO.
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Balance Coin fell more than 99% after blockchain security firms linked the stablecoin’s collapse to a reported $915,000 exploit involving 42DAO.
Stabelcoin Balance Coin Crashes 99% After Reported $915K Exploit
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3.67%
Written by
Felix Ng
staff editor
Reviewed by
Yohan Yun
staff editor
Written by
Felix Ng
staff editor
Reviewed by
Yohan Yun
staff editor
Balance Coin crashes 99% after reported $915K exploit
Latest News
Published
Jul 22, 2026
Blockchain security firms linked the collapse to a suspected attack on 42DAO, the decentralized organization that governs the Balance Protocol ecosystem.
Balance Coin, an algorithmic stablecoin designed to maintain a peg to the US dollar, has fallen more than 99% following a reported exploit.
The stablecoin, the native algorithmic stablecoin of Balance Protocol, is currently trading at $0.001358, down from $0.9954,
according
to CoinMarketCap.
Blockchain security firm PeckShield on Wednesday
said
the depeg followed a $915,000 exploit of decentralized autonomous organization 42DAO, which governs the Balance Protocol and its BLC token.
TenArmor
said
there were two attack transactions involving GemJoin and 42DAO on the BNB Chain.
Onchain data shows that the first attack involved the minting of 4.5 million BLC from a null address, which was then sent to PancakeSwap V2, and swapped for Binance-pegged USDT (BSC-USD) and Binance Bitcoin (BTCB).
A second attack replicated the exploit two hours later, minting an additional 5,900 BLC to extract BSC-USD and BTCB.
This is a developing story and more information will be added as it becomes available.
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Original YayaNews editorial coverage, published for informational purposes.
This article is sourced from CoinTelegraph. It is for informational purposes only and does not constitute investment advice.
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