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Acala Stablecoins Near $1 Peg After Community Burns 1.2B aUSD Minted by Exploiters

Developers said trace reports were underway to identify the transactions performed by the 16 wallet addresses connected to the exploit.

By Shaurya Malwa

Updated May 11, 2023, 5:25 p.m. Published Aug 16, 2022, 7:22 a.m.

Acala Network's aUSD nearly regained its $1 peg this morning after developers burned over 1.2 billion aUSD tokens after a community vote. (eswaran arulkumar/Unsplash)