Balance Coin drops 99% in just a few minutes – 915,000 USD evaporates after an exploit on 42DAO, the governance organization managing the Balance Protocol ecosystem. The hacker abused the setRewards function, illegally minted 18 million BC, then dumped it straight onto a DEX. The price fell from 0.05 USD to nearly zero, causing many investors to lose everything.
This incident once again exposes the risks of centralized DAOs—even if they are transparent, a single smart-contract loophole can make all liquidity disappear. Balance Protocol’s TVL has plunged by more than 90% and shows no signs of recovery.
I’ve seen many smaller DeFi projects collapse due to poor security. The lesson here is very clear: comprehensive audits are mandatory, and traders should never place all their trust in a small-cap token—no matter how promising the team claims it is. Always do your own research and manage risk.
#DeFi #Bảomật #Altcoin #Rủiro #DYOR
This incident once again exposes the risks of centralized DAOs—even if they are transparent, a single smart-contract loophole can make all liquidity disappear. Balance Protocol’s TVL has plunged by more than 90% and shows no signs of recovery.
I’ve seen many smaller DeFi projects collapse due to poor security. The lesson here is very clear: comprehensive audits are mandatory, and traders should never place all their trust in a small-cap token—no matter how promising the team claims it is. Always do your own research and manage risk.
#DeFi #Bảomật #Altcoin #Rủiro #DYOR