Balance Coin fell more than 99%, and 42DAO is suspected to have been attacked by $915,000

Comparing news, the algorithmic stablecoin Balance Coin fell from $0.9954 to $0.001358, a drop of more than 99%. This stablecoin is Balance Protocol's native algorithm stablecoin, and the design goal is to maintain a bond with the US dollar.

Blockchain security firm PeckShield said the unanchoring occurred after 42DAO, the decentralized autonomous organization that governs Balance Protocol and its BLC token, was attacked by a $915,000 vulnerability. TenArmor said it detected suspicious attacks involving GemJoin and 42DAO on BNB Chain.