A recent oracle exploit broke the peg of Balance Coin's stablecoin, causing a 99% crash on July 22, 2026. The attacker drained BTC vaults and netted approximately $912k.
The incident highlights the importance of vetting stablecoins to prevent such collapses in the future.
Stablecoins are pegged to a specific asset or currency, but their value can fluctuate if there is an exploit or other issue.
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