Algorithmic Stablecoin BLC Tumbles More Than 99% After Hack - bloomingbit
Algorithmic stablecoin BLC lost over 99% of its value after a hack, dropping from $0.9954 to $0.001358. Blockchain security firm PeckShield linked the depeg to a $915,000 hack targeting 42 DAO, which governs Balance Protocol. TenArmor also detected a suspicious attack on GemJoin and 42 DAO on BNB Chain.
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