42DAO's Balance Coin Exploited for $915K via Oracle Manipulation
On July 22, 42DAO's Balance Coin (BLC) lost its $1 peg and crashed over 99% after an attacker manipulated the BTCB oracle price feed on BNB Chain. The exploit triggered unauthorized liquidations and allowed the attacker to mint 4.5 million unbacked BLC tokens, resulting in approximately $915,000 in losses. The root cause involved an oracle signer key and configuration flaw, despite the protocol having a CertiK audit.
Detected & updated continuously · Source: Nebula
Mentioned
Forty Two DAO Token (ftd)Sources
@CryptoPatel
Balance Coin ( $BLC ) Crashes 99.97% - 42DAO Oracle Exploit Explained On 22 July, Balance Coin lost its $1 peg and fell to about $0.0012–$0.0025 on BNB Chain. That's a drop of over 99%. What happened 👇 An attacker fed a fake, very low BTCB price into Balance Protocol's oracle. https://t.co/Kfmi8cKP8k
@FortaNetwork
.@42dao_official on #BSC exploited for ~$900K 🚨 Root cause points to an oracle signer key + config flaw. Firewall flagged the follow-up: a second address pushed BTCB down via the Dog liquidation module for ~$122K more 👇 https://t.co/gFXQwLMusI
@0xc06
Balance Coin dropped -99% The mechanism explains why. Attacker pushed a Binance BTCB oracle price abnormally low, then liquidated vaults that shouldn't have been liquidatable at all. One transaction, one bad price feed. SlowMist's read: two protections missing at once. No https://t.co/qhkqG1zRqz
@MasterCryptoHq
This is how $915K disappeared without hacking a single wallet. 42DAO's BLC lost $915K after an attacker changed the BTCB price feed. This triggered liquidations that should never have happened. The attacker then created 4.5 million fake BLC tokens and sold them all on https://t.co/EOcT6oQ1oO
@Crypto_Jargon
A stablecoin pegged to $1 is now worth $0.0013. The protocol had a CertiK audit. Attacker manipulated the BTCB oracle price to trigger fake liquidations, then minted 4.5 million unbacked $BLC tokens and dumped them for real money. $915K extracted. The exploit still worked. https://t.co/VjGnA4MY44
@TronWeekly
Balance Coin ($BLC) crashes 99%+ after a reported exploit shattered its dollar peg. ⚠️ Attackers allegedly manipulated the BTCB oracle, enabling unauthorised liquidations and minting millions of BLC. The exploit reportedly caused ~$915K in losses, with BLC plunging from $1 to