Name: DeFi Platform Acala’s Stablecoin Plunges After Hackers Exploit Bug
Uploaded: 2022-08-15T18:28:20.000Z
Duration: 5 min 52 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.

CD20$1,718.45 BTC$62,895.57 ETH$1,832.99 XRP$1.09 SOL$74.62

DeFi Platform Acala’s Stablecoin Plunges After Hackers Exploit Bug | CoinDesk Videos

Loading video...

CD20$1,718.45 BTC$62,895.57 ETH$1,832.99 XRP$1.09 SOL$74.62

DeFi Platform Acala’s Stablecoin Plunges After Hackers Exploit Bug | CoinDesk Videos