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Tag: $aUSD

Acala Dollar (aUSD) is the network’s native stablecoin.

Acala repegs

Misconfiguration of the network’s iBTC/aUSD liquidity pool enabled hackers to produce 1.28 billion stablecoins, reducing its value. Hackers exploited a newly installed liquidity pool weakness to make 1.28 billion tokens. The site burned the hacker-created stablecoin supply on Tuesday, putting its price back near to $1.The network suspended operations following an emergency vote on governance due to the aUSD drop. As recompense,...

$aUSD, Altcoins, Blockchain, Cryptocurrencies, Front page, News, Polkadot

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Another depeg: Acala reveals 3 billion aUSD incorrectly minted

After a setup issue in a recently created liquidity pool, Acala still tracks incorrectly generated coins as the dust settles from another decentralized financial hack.The 16 wallet addresses linked to the exploit were the subject of continuing trace reports, according to the developers.The network’s native stablecoin, Acala Dollar ($aUSD), lost its peg to the dollar on Saturday when a fault prompted the network to unintentionally...

$aUSD, Front page, Hacks, News, Polkadot

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