The attack allowed the exploiter to liquidate multiple Bitcoin-backed vaults before swapping the assets for profit.
Update July 22 at 4:37 am UTC: The article has been updated to include additional information from Slowmist about the exploit method.
Balance Coin, an algorithmic stablecoin designed to maintain a peg to the US dollar, has fallen more than 99% following a reported exploit.
The stablecoin, the native algorithmic stablecoin of Balance Protocol, is currently trading at $0.001358, down from $0.9954, >according to CoinMarketCap.
Blockchain security firm SlowMist said the exploit stemmed from an attacker manipulating an “abnormally low” Binance Bitcoin (BTCB) oracle price, letting the attacker liquidate collateral in multiple BTCB vaults that should not have been liquidatable, then swap the extracted assets for profit.
SlowMist on Wednesday >said the protocol lacked key oracle price protections and liquidation delays, allowing the attacker to exploit an artificially low BTCB in a “single-transaction combo.”
Blockchain security firm PeckShield >said the exploit has caused $915,000 in losses.
This is a developing story and more information will be added as it becomes available.
小靓分析：
🦊 小靓解读
Balance Coin 因预言机价格被操纵，导致 BTCB 金库被异常清算，币价从 $0.995 暴跌至 $0.0013，跌幅超 99%。这暴露了算法稳定币依赖单一喂价源的脆弱性，攻击者仅用 $91.5 万就撬动了整个协议崩盘。
📊 市场影响
短期对算法稳定币赛道构成利空，尤其是依赖 BTC 跨链锚定资产的协议（如 Basis Cash、UST 类项目）可能面临信任危机。BTCB 本身未受影响，但相关 DeFi 协议的清算机制需重新审计，短期内 BTCB 抵押类借贷或出现资金撤离。
💡 操作建议
建议交易者避开所有非主流算法稳定币，尤其是依赖单一预言机的项目。若持有 BTCB 或相关 DeFi 仓位，可考虑暂时撤出至主流 DEX（如 Uniswap、Curve）以规避二次清算风险。
风险提示：
该资讯来源于公开渠道，仅供参考。Traceless 无痕智盈平台不对此信息准确性做任何保证。