Morning Edition · Wednesday, July 22, 2026Published at 1:32 AM EDT · New York
Unauthorized-Mint Exploit Drains 42DAO of $915,000 and Collapses Balance Coin
The attack on a BNB Chain governance contract minted Balance Coin without authorization, part of a series of DeFi incidents tracked over recent weeks.
Balance Coin, an algorithmic stablecoin designed to hold a one-dollar peg and backed largely by Bitcoin Cash, fell more than 99 percent after an attacker exploited 42DAO, the governance entity for the Balance protocol, on BNB Chain. Securit…
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Part of a tracked trend
Bridge and Mint Exploits Sustain Heavy DeFi Losses
Over 3-6 months, recurring bridge proof-validation and unauthorized-mint exploits keep monthly DeFi losses elevated, including drains of deprecated contracts.
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