Another Stablecoin Bites the Dust as BLC Crashes From $1 to Near Worthless

Balance Coin, an algorithmic stablecoin built on BNB Chain, lost more than 99% of its value on July 22, 2026, after an attacker manipulated a price oracle and drained roughly $912,000 in bitcoin-backed collateral from vaults controlled by 42DAO, the protocol’s governing organization. Security firms Peckshield and Slowmist confirmed the exploit within hours of the