Balance Coin Collapses After $915K Exploit | Bitcoin and Crypto News

Balance Coin, an algorithmic stablecoin pegged to the US dollar, has plummeted over 99%—now trading at a fraction of a cent—after a suspected $915,000 exploit targeting 42DAO, the protocol’s governing body. Security teams are investigating suspicious activity on BNB Chain involving GemJoin, which likely triggered the collapse. As analysts scramble to piece together the breach, this shocking freefall underscores the extreme risks and security vulnerabilities inherent in decentralized finance, especially for algorithmic stablecoins. Listen in comfort:Get a discount on a Soli Pillow: http://solipillow.com/discount/dnn. Advertise on DNN:[email protected] This is an automated, high-level news summary based on public reporting.Report issues to [email protected]. View sources & latest updates:https://sources.thednn.ai/1e41923af78e05ff