Exchange Ranking
Top Exchanges
24h Volume Ranking
Popularity Ranking
Exchange BTC Balance
Proof of Reserves
Decentralized Exchanges
Funding Rate
Funding Heatmap
Liquidation Data
Max Pain
Long/Short Ratio
Whale L/S Ratio
Binance/Okex/Huobi L/S
Bitfinex Margin L/S
ETF Tracker
Solana ETF
XRP ETF
Hong Kong ETF
Bitcoin Treasuries
Crypto Reversal
Ethereum Reserves
HyperLiquid Wallet Analysis
Hyperliquid Whale Watch
Large Transactions
On-chain Movement
Bitcoin ROI
Stablecoin Market Cap
Options Analysis
News
Articles
Economic Calendar
Features
Wallet
Contract Calculator
Security
Collections
Watchlist
FollowingBalance Coin (BLC) plunged 99% after 42DAO attack
On Tuesday, the DeFi protocol 42DAO was attacked, and security researchers estimated that the attacker may have stolen approximately $915,000 from the platform. Affected by this, Balance Coin (BLC) prices plunged more than 99%.
The price of BLC fell from nearly 1 dollar to less than 1 cent in an instant, adding to the growing list of cryptographic protocol breaches in 2026.
Oracle manipulation triggers rapid clearing
Blockchain security company PeckShield first reported the incident, claiming that the 42DAO was attacked and lost approximately US$915,000. Subsequently, Slowfog Technology released a more detailed breakdown report, correcting the loss amount to approximately $912,000, and tracing the root cause to the 42DAO's Median Oracle (median oracle), which entered an abnormally low BTCB price into the system.
According to Slowfog Technology's analysis, the attacker took advantage of the protocol's Spotter poke function to write the wrong price directly to the VAT contract because Spotter lacked multiple security measures, including price deviation checking, maximum pullback limits and minimum price floor protection.
Once the manipulated price enters the protocol's accounting system, the Dog module captures it without "clearing delays or oracle price verification," allowing attackers to trigger instant clearing of multiple BTCB vaults in a single transaction. Slowfog Technology identifies the attacker's wallet address as 0x9d8d..231c, the victim's contract address as 0x973a... a9c 0c, and the Spotter and Dog contract addresses used are 0x849d..29288 and 0x0010... 1f 634e, respectively.
The market responded quickly. As of writing, BLC was trading at approximately $0.0025, down 99.75% in 24 hours after trading at approximately $0.997, GeckoTerminal data showed. The market value of the token has also dropped to about $12,000, with a transaction volume of $94,900 out of more than 1600 transactions, of which more than 1000 were bought and the rest were sold.
DeFi domain suffers another security breach
42DAO is the latest in a series of DeFi and cross-chain bridge attacks this year. Other recent incidents include the attack on Allbridge, the cross-chain stablecoin bridge, which was forced to suspend its activities on July 20 after hackers stole $1.65 million. Investigators said the attackers used flash lending transactions to manipulate Allbridge's stablecoin pool ratios and subsequently extracted funds from the distorted liquidity pool.
In June this year, Syscoin's cross-chain bridge was attacked, and the attackers minted as many as 5 billion SYS tokens, causing the asset's price to drop by nearly 20%. A month earlier, Echo Protocol suspended cross-chain transactions due to an attack involving the forging of 1000 eBTC. The incident also caused Echo's native token price to immediately plummet by more than 12%.
Although the technical details may vary, the 42DAO attack followed a familiar pattern: Rather than relying on cracking encryption algorithms or stealing keys, the attacker took advantage of missing security precautions in price entry and clearing mechanisms.
