Balance Coin crashes from $1 peg as exploit drains $1M from Bitcoin vault

AI Summary Balance Coin fell by ~99% on Wednesday, after an attacker distorted its BTCB price oracle and carted away with $912,000 out of the project’s treasury, losing almost all of its value. Balance Coin (BLC) is an algorithmic stablecoin tied to the dollar; it’s built to trade at $1 and nothing more. It traded at around... fulltext: 323 chars | fulltext source: rss-fallback | summary method: extractive Original: https://www.cryptopolitan.com/balance-coin-crashes-after-oracle-attack/ Source: CryptoPolitan