Wu Shuo Daily Curated Crypto News - Balance Coin Plunges More Than 99% Due to Oracle Price Vulnerability, Attacker Profits About $912,000

1. Balance Coin plunges more than 99% due to an oracle price vulnerability; the attacker profits about $912,000
Algorithmic stablecoin Balance Coin was attacked due to a protocol pricing vulnerability. Its price fell from nearly 1 US dollar to about 0.0014 US dollar, a drop of more than 99%. Approximately $3.5 million in nominal market value was almost entirely wiped out. SlowMist said the attacker manipulated the protocol’s oracle and wrote an abnormally low Bitcoin price into the system. With lending contracts lacking price range validation and with delayed liquidation, they incorrectly liquidated multiple vaults that should not have been liquidated, earning about $912,000 in profit from a single transaction. The funds came from the Balance Protocol governance entity 42DAO.
2. The daily trading volume of South Korea’s five largest crypto exchanges has fallen 89%; in the same period, the KOSPI rose by 114.44%.
The average daily trading volume of the five largest South Korean crypto exchanges—Upbit, Bithumb, Coinone, Korbit, and Gopax—has fallen from $2.82 billion in the same period of July 2025 to $305 million, a year-over-year decline of about 89%. In the same period, South Korea’s composite stock price index (KOSPI) rose 114.44%. ZDNet Korea said that the five exchanges’ trading volume fell 88% year over year on Monday, and some platforms sold crypto assets due to declining fee revenues. Korbit, for example, sold 15 BTC and 60 ETH, raising about 1.6 billion won (about $1 million).
3. Kraken’s parent company plans to expand xStocks, including stocks from Hong Kong, the UK, and South Korea.
Kraken’s parent company, Payward, is working with investment infrastructure provider GTN to bring Hong Kong listed stocks to xStocks. UK, European, and South Korean stocks are expected to follow, pending regulatory approval. GTN will provide execution, custody, and recordkeeping services for the securities behind the relevant tokens.
4. Movement has filed for bankruptcy; since last November, daily revenue from the on-chain app has been below $800 for a long time.
Since last November, the Movement on-chain app has had daily revenues of less than $800 for a long period. Meanwhile, daily fees on that chain have remained in the single digits for a long period, with fees of only $1 in the past 24 hours. However, Movement’s total amount of funding raised is as high as $141.4 million. The token’s current FDV is $107 million, down more than 99% from its all-time high. Movement has now filed for bankruptcy.
5. Zilliqa: A Ledger app signing random-number vulnerability could allow private keys to be recovered; native transactions have been paused.
Zilliqa tweeted that its Ledger app has a serious vulnerability in random number generation, affecting Schnorr signatures for native non-EVM transactions. Accounts that use this app to sign approximately five or more native transactions should be considered compromised. An attacker can recover the private key within seconds using only the publicly available signature data on-chain. The flaw exists in all versions released from 2019 to 2026. On July 19, on-chain activity consistent with an active attack was observed. The vulnerability stems from the signing program copying the wrong 32 bytes, causing the highest 64 bits of each temporary nonce to be fixed at zero. Zilliqa has paused native transactions and is working with Ledger to prepare a patched app, but updates cannot protect keys that have already been exposed; affected keys ultimately must be disabled. EVM transactions and zilliqa-js, gozilliqa-sdk, and pyzil are not affected. Zilliqa said affected users should wait for the official remediation plan and not transfer assets themselves.
South Korea’s largest crypto exchange Upbit announced that it will list Zilliqa (ZIL) as a trading caution asset, involving the ZIL/KRW and ZIL/BTC markets. The caution period runs until the third week of August. Upbit said there is a risk of security incidents related to ZIL wallets or distributed ledgers that have not yet been identified or fixed. ZIL deposits and withdrawals have been suspended, and if the issue is not resolved, trading support may be terminated.