AUSD Stablecoin Hack
AUSD Stablecoin Hack
What is aUSD?
What is aUSD?
aUSD (Acala USD) is the stablecoin of both Polkadot & Kusama ecosystem. It is issued by Acala protocol.
What is Acala?
What is Acala?
Acala is a DeFi protocol on Polkadot blockchain. It hosts a range of financial services like staking, lending & borrowing.
What's the news?
What's the news?
Acala Protocol was hacked and a large amount of aUSD stablecoin has been printed & stolen by the hacker.
The Damage Caused
The Damage Caused
The hacker printed & stole $1.2 billion aUSD that resulted in de-pegging of stablecoin, hitting $0.5713
Security Vulnerability
Security Vulnerability
The hack was caused
by a bug in the Acala iBTC/AUSD pool, causing the issue & drain of tokens
The recovery
The recovery
The coin has recovered by 44% at the time of writing but this is concerning for aUSD since hack like these might end up like UST
Also Read:
Also Read:
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Polkadot Review
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Polkadot Review
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WBT Coin review
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WBT Coin review
3..
BitTorrent Review
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BitTorrent Review
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