Polkadot-Powered Stablecoin Tanks As Hackers Mint 1.3B Tokens

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  1. No hack, just a user receiving funds through an error. Wallet has been blocked, parachain is paused through vote of the community.

  2. If this is found, patched, and resolved quickly it feels like a vote of confidence in this system. Your mileage may vary on DOT, but sub 9 bucks a coin is pretty cheap

  3. Polkadot-powered stablecoin acala dollar (aUSD) crashed to below 10 cents on Sunday after hackers minted 1.3 billion of the tokens for free.

  4. tldr; Polkadot-powered stablecoin acala dollar (aUSD) crashed to below 10 cents on Sunday after hackers minted 1.3 billion of the tokens for free. The stablecoin’s issuing network Acala voted to suspend functionality to address the situation.

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