Acala Stablecoin aUSD Depegs from US Dollar after the Network Gets Hacked

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Today, another stablecoin Acana Dollar, got depegged from the US dollar and dropped by 99% in value.

The incident is a consequence of the Alana Network exploit that happened on Sunday. Getting access to the network, hackers issued around 1.2 billion aUSD tokens.

According to Acala representatives, the attack may have been caused by an issue with their iBTC/AUSD pool. Following the news, the network was put into maintenance mode and all transactions were temporarily blocked. The team has been giving updates on resolving the issue and asked whitehat holders to return the funds.

Even though it is not the first stablecoin that has got depegged recently, the most prominent ones are still holding strong and are available for exchange on ChangeNOW.

Acala Stablecoin aUSD Depegs from US Dollar after the Network Gets Hacked

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Jeremy Kane

Crypto writer

Exchange Crypto