42DAO’s BLC Stablecoin Depegs to Near Zero After $912K Oracle Exploit
Covered by 2 sources · 2 articles
2 outlets - including Thenewscrypto and Cryptotimes - are covering this story. One flaw in the price-setting mechanism of 42DAO led to one of the most recent disruptions in the decentralized finance ecosystem this year. Hackers took advantage of the vulnerabilities in the oracle design of the protocol. This resulted i…
All coverage
42DAO Oracle Exploit Crashes Balance Coin (BLC) 99% After $912K DeFi Hack
One flaw in the price-setting mechanism of 42DAO led to one of the most recent disruptions in the decentralized finance ecosystem this year. Hackers took advantage of the vulnerabilities in the oracle design of the protocol. This resulted i…
42DAO’s BLC Stablecoin Depegs to Near Zero After $912K Oracle Exploit
Attackers manipulated a low BTCB oracle price to instantly liquidate multiple vaults, exploiting sanity checks the MakerDAO fork left out of its liquidation engine.