Crypto
Balance Protocol algorithmic stablecoin Balance Coin plunges more than 99 percent after exploit report
Balance Coin, an algorithmic stablecoin under Balance Protocol, has plunged more than 99 percent after an exploit was reported. Cointelegraph said the token fell to $0.001358 from $0.9954, based on CoinMarketCap data. The coin is designed to track the U.S. dollar, but its one-to-one peg has broken. Blockchain security firm PeckShield said the depeg followed a $915,000 exploit targeting 42DAO.
