DeFi Platform Acala’s Stablecoin Plunges After Hackers Exploit Bug

Name: DeFi Platform Acala’s Stablecoin Plunges After Hackers Exploit Bug
Uploaded: 2022-08-15T18:51:47Z
Duration: 5 min 352 s
Description: Polkadot-based decentralized finance (DeFi) platform Acala’s native stablecoin, aUSD, depegged on Sunday, plummeting 99% after hackers exploited a bug in a newly deployed liquidity pool to mint 1.28 billion tokens. “The Hash” team discusses the implications for the state of stablecoins, open finance, and regulation.

Aug 15, 2022

Polkadot-based decentralized finance (DeFi) platform Acala’s native stablecoin, aUSD, depegged on Sunday, plummeting 99% after hackers exploited a bug in a newly deployed liquidity pool to mint 1.28 billion tokens.

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