PeckShield says 42DAO’s native algorithmic stablecoin BLC was hacked, plunging 99%

Blockchain security firm PeckShield said 42DAO’s native algorithmic stablecoin, Balance Coin (BLC), was hit by a hack. According to PeckShield’s monitoring, the incident sent BLC down 99% and left 42DAO with losses of about $915,000. The source material did not provide more detail on how the attack was carried out, when the exploit began, or what response measures may have followed. The reported figures are limited to PeckShield’s monitoring update, which identified the affected asset as BLC, described it as a native algorithmic stablecoin incubated and used by 42DAO, and quantified both the price collapse and the estimated losses. No additional on-chain data, attacker identity, or recovery status was disclosed in the input.