An attacker fed the lending system a fake, abnormally low bitcoin price, liquidated vaults that should have been safe, and pocketed the difference in a single transaction. Balance Coin, an algorithmic stablecoin designed to hold a $1 peg, crashed more than 99% to about $0.0014 after an attacker exploited a pricing flaw in its protocol. The attacker manipulated Balance Protocol’s bitcoin price oracle, triggering improper liquidations of collateralized vaults and netting about $912,000, largely a…
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