Acala developers almost killed their own project by mistake They are reviving it with the help of the community The protocol has already managed to recapitalize and rebalance Acala Swap’s liquidity Ot...
Tag: Acala
Acala Network to resume operations after burning 2.7B in aUSD stablecoin
After the mining failure involving its stablecoin, aUSD, the Acala Network announced on Monday that it had resumed its operations following a referendum allowing liquidity pools (LPs) to withdraw liqu...
Acala Network To Resume Operations After Passing Vote
3 hours ago | 2 mins read Altcoin News A vote permitted LPs to withdraw liquidity from pools or unstake LP tokens. There was a reported minting mistake of 3.022 billion aUSD. The Acala Network said on...
Acala Resumes Operations After Printing Over $3B in Stablecoins by Mistake
Some blockchain projects have to deal with hackers, and others, like Acala, have to deal with their own developers. A “human error” a few weeks ago almost killed the whole project. Still, thanks to th...
Acala reveals path to resuming operations after aUSD exploit
The Acala network today revealed its plans to resume operations after a minting error incident suffered by its aUSD stablecoin in August. Acala is a decentralized finance Polkadot parachain that power...
Acala announces ‘path to resuming operations’ after aUSD breach
Acala, a decentralised finance network that powers the crypto-backed aUSD stablecoin ecosystem, is “ready to resume its operations,” the platform announced on Friday. In August, the Acala community vo...
Acala Network Releases the Full Trace Report on Recent Network Exploit – crypto.news
The Acala Network released the full trace results report regarding all addresses involved in the aUSD incident. Mid August, Acala Network’s aUSD stablecoin depegged by more than 99%, forcing the Acala...
Acala Stablecoin (ausd) Now Trading At $0.70 After Depegging From USD
– Advertisement – Acala’s Stablecoin Falls by 3.65% In 24 Hours. Several stablecoins have had a horrible year sustaining their US dollar value peg, and Acala network’s aUSD is no differe...
Layer by Layer Issue 43: Canto, Dogechain, and Polkadot
August 26, 2022, 9:32AM EDT • 21 min read Quick Take In this weekly series, we dive into some of the most interesting data and developments across the Layer 1 blockchain landscape, from DeFi and bridg...
18 Acala Services Offline 12 Days Post 1.28 Billion aUSD Hack
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Most Acala Services Still Offline Twelve Days After Attack
Key Takeaways Acala said today that most of its services remain paused after an attack that occurred on Sunday, August 14. Of the 22 services listed on Acala’s website, 18 services are paused wh...
Acala community votes to burn 2.97 billion of erroneously minted aUSD stablecoin
According to a new post by Acala Network co-founder Bette Chen, the community has voted to burn 2.97 billion worth of Acala USD (aUSD) stablecoin. Acala is a decentralized finance platform built on th...
Is Acala USD Losing Its Peg Again? aUSD Drops To 80 Cents
– Advertisement – The aUSD price is still slipping. In a tweet today, PeckShieldAlert reveals that Acala USD (aUSD) is down to $0.81, moving further away from the dollar peg. #PeckShieldAl...
After the Exploit and Burn Repair, Acala Almost Reached Its Original Peg of 1:1
The Acala Dollar (aUSD), Polkadot’s native decentralized stablecoin, hit a new low of $0.0054 on August 14 and lost its $1 peg. Acala Network had previously observed a suspicious transaction. Hackers ...
Hackers Minted 1.3B Acala Dollar, The Polkadot Stablecoin
Acala, The Network’s Defi Center Acala Dollar (aUSD), a stablecoin powered by Polkadot, fell to below 10 cents on Sunday as a result of hackers generating 1.3 billion of the tokens for free. Acala, th...
Acala recovers 2.97 billion of aUSD stablecoin minted during exploit
Acala, a parachain project on Polkadot, says it has recovered about 2.97 billion from 16 addresses that minted 3 billion Acala USD (aUSD) in a security incident last Sunday. The incident occurred due ...
Acala trace report reveals 3B aUSD erroneously minted
High-profile security incidents continue to be a theme in 2022, with the Acala network joining a long list of stricken platforms to fall prey to exploits. The Acala USD (aUSD) token, which acts as a n...
Acala Has Recovered Almost 3B aUSD
Key Takeaways Acala has recovered 1.68 billion aUSD in its second trace following an attack that minted billions of tokens. Combined with an an earlier trace that recovered 1.29 billion aUSD, Acala ha...
Acala burns 99% of aUSD involved in mint exploit
Acala has successfully burnt 1.288 billion aUSD reportedly lost to hackers during the Sunday exploit. Following the mint error on the horizon protocol, the community unanimously approved a referendum ...
Hacker Prints 1.2B AUSD On Acala Network, AUSD Depegs After The Exploit – crypto.news
This year has been rough for stablecoins as several stablecoins have depegged from the USD. On August 14th, the AUSD (Polkadot-based stablecoin) of Acala Network dropped below $1. Reports revealed tha...
Acala Exploit Causes Polkadot-Based DeFi Platform’s Stablecoin to Drop 99%
The list of not-so-stable stablecoins has a new addition, as Polkadot-based decentralized finance (DeFi) platform Acala saw its aUSD stablecoin crash by 99% after hackers exploited a bug in its liquid...
Acala Community Debating Massive Token Burn to Recover From Exploit
Key Takeaways The Acala community has proposed carrying out a coin burn to help aUSD regain parity with the dollar. After a referendum vote, the project could burn 1.3 billion aUSD by sending it to th...
Acala submits governance proposal to burn $1.28B aUSD following investigation of exploit
Polkadot ecosystem’s stablecoin Acala ($aUSD) suffered an exploit over the weekend that led to a malicious actor minting $1.2 billion out of thin air. The Acala team “paused” operations via an emergen...
Polkadot-based stablecoin aUSD depegs after Acala Network breach
Acala Network, the decentralized finance hub of Polkadot, has been breached and its stablecoin depegged from the dollar mark. Early this morning, Acala’s Twitter page posted that it noticed conf...
Acala network suspends activities after hack 1
Acala network native token aUSD saw a massive bearish return over the weekend after the digital asset lost its peg. After the incident, the network noted that they had to freeze the wallet suspected t...
Acala Stablecoin aUSD Collapses After Parachain Exploit
Key Takeaways On Sunday, Polkadot’s DeFi Hub Acala Network suffered an exploit that saw its native over-collateralized stablecoin aUSD plummet to zero. The exploit was due to a “misconfigu...
Acala Network’s aUSD Depegged from Dollar Mark after Breach
Acala Network’s stablecoin was depegged from the dollar mark on Sunday following a breach. The decentralised finance hub of Polkadot on Sunday tweeted saying a vote was proposed to pause operati...
Network and token freeze after Acala exploit raises questions
The Acala Network’s aUSD stablecoin depegged by over 99% over the weekend and forced the Acala team to pause a hacker’s wallet, raising concerns about its claim of being decentralized. On Aug. 14, a h...
Not Another UST; Acala Team Shares Positive Update On aUSD Hack
Earlier today, Polkadot DeFi’s hub Acala had its stable coin aUSD, exploited for about 1.2 billion aUSD. It has since addressed the issue on its twitter account explaining that the problem had been id...
Hackers are struggling to cart away with funds stolen on Acala Network
The Acala network has suffered a heavy attack from hackers. There are strong indications that the attack has claimed a whopping amount of aUSD tokens. According to findings, the hackers feasted on a ...
Over 1.2 Billion aUSD Minted in an Exploit of Polkadot’s DeFi Hub Acala
Polkadot’s decentralized finance (DeFi) hub Acala suffered a major attack on its newly launched liquidity pool on Sunday. The exploit allowed the hacker to mint more than 1.2 billion aUSD, the project...
Acala Network aUSD Depegs by 99% as Hacker Issues Over 1 Billion Tokens
Acala Network became the latest Defi network to suffer an exploit after hackers breached the network and issued 1.2 billion aUSD tokens. The Polkadot-based network issues aUSD as its native stablecoin...