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Ethereum World News 2022-08-14 16:29:40

Polkadot Stablecoin Depegs Following $1.2 Billion Acala Network Exploit

TL;DR Acala network, the defi protocol for Polkadot, has suffered a breach, and its stablecoin depegged from the dollar. Acala Network’s aUSD stablecoin currently sits below $1, dropping as low as 0.58 at one point. It is reported that hackers collected approximately $1.2 Billion $AUSD. Polkadot’s decentralized finance protocol Akala Network is in significant trouble as reports show that the hub suffered a breach today, causing its stablecoin to depeg from the dollar. Acala Network reported today via their official […]

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