The Acala stablecoin, aUSD came close to regaining its peg with the U.S. dollar after the protocol burned 1.2 billion aUSD tokens, which were minted by exploiters over the weekend in an attack on the platform.
Acala, a Polkadot-based DeFi platform, held a community vote on August 15 that proposed burning the 1.2 billion aUSD tokens to counteract the effects of Sunday’s exploit.
The protocol’s team also informed users that an ongoing trace report is underway to identify erroneously minted aUSD which have been swapped to other tokens or added to liquidity pools, and to identify other relevant txs performed by the 16 wallet addresses and token outflows to other addresses, parachains, & exchanges.
Read Also: Why did Acala’s aUSD Drop by 99%?
