Acala USD (AUSD) Stablecoin On Polkadot Lost Peg

Acala has been attacked by hackers. The hackers issued more than 1.2 billion AUSD. This is also the reason why stablecoins lose peg seriously.

Over 1.2 billion AUSD Issued causing loss of peg

As discovered by security firm PeckShieldAlert, the stablecoin built on the Polkadot ecosystem is currently losing Peg, dropping 30%.

The cause of this sudden loss of pegs has been identified by the Acala platform as experiencing an attack. The hackers issued more than 1.2 billion this stablecoin. AUSD broke off and once fell by 70%. Acala said a configuration issue of the Honzon protocol which affects AUSD and passed an urgent vote to pause operations.

Acala USD under the Acala Network project is a decentralized financial center and the main liquidity pool on the Polkadot ecosystem.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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