Svmuu News: The algorithmic stablecoin Balance Coin has fallen from $0.9954 to $0.001358, a drop of more than 99%. This stablecoin is the native algorithmic stablecoin of the Balance Protocol and is designed to maintain a peg to the U.S. dollar.
Blockchain security firm PeckShield stated that the de-pegging occurred after 42DAO—the decentralized autonomous organization (DAO) governing the Balance Protocol and its BLC token—was hit by a $915,000 exploit. TenArmor reported that it detected a suspicious attack on the BNB Chain involving GemJoin and 42DAO.
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Balance Coin Plummets Over 99%; 42DAO Reportedly Hit by a $915,000 Attack
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Source：Odaily · Source Link
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