Balance Coin Plunges 99% Following 42DAO Exploit

Balance Coin took a massive hit today, crashing by more than 99 percent after a security breach hit the 42DAO protocol. Reports show that attackers managed to exploit the system to mint unauthorized BLC tokens on the BNB Chain before swapping them out.

Security alerts started flashing as suspicious transactions drained liquidity pools. The attackers made off with roughly 915,000 dollars in value, leaving regular token holders with heavy losses and a nearly worthless asset.

Incidents like this highlight the ongoing risks of smart contract vulnerabilities in decentralized finance. Traders and investors should keep a close eye on official updates from the project team to see if any recovery plan or compensation is coming.