PANews reported on September 15th that Yala released an update on its X platform regarding a recent security incident. The update stated that the vulnerability resulted in unauthorized transfers of funds, but the situation is now fully under control. The company has identified the stolen assets on-chain and is actively working with law enforcement to recover the losses. The company has pledged to implement the following measures: 1. Full liquidity guarantee: All depleted funding pools will be fully replenished, ensuring that every user can convert YU tokens to USDC at a 1:1 ratio; 2. Information transparency: A clear roadmap outlining the liquidity restoration plan and system security enhancements will be released within the next 48 hours. Coingecko data shows that the price of Yala's stablecoin YU is currently $0.11 and has not yet restored its anchor.PANews reported on September 15th that Yala released an update on its X platform regarding a recent security incident. The update stated that the vulnerability resulted in unauthorized transfers of funds, but the situation is now fully under control. The company has identified the stolen assets on-chain and is actively working with law enforcement to recover the losses. The company has pledged to implement the following measures: 1. Full liquidity guarantee: All depleted funding pools will be fully replenished, ensuring that every user can convert YU tokens to USDC at a 1:1 ratio; 2. Information transparency: A clear roadmap outlining the liquidity restoration plan and system security enhancements will be released within the next 48 hours. Coingecko data shows that the price of Yala's stablecoin YU is currently $0.11 and has not yet restored its anchor.
Yala: Stolen assets have been identified on the chain and are actively working with law enforcement to recover them.
PANews reported on September 15th that Yala released an update on its X platform regarding a recent security incident. The update stated that the vulnerability resulted in unauthorized transfers of funds, but the situation is now fully under control. The company has identified the stolen assets on-chain and is actively working with law enforcement to recover the losses. The company has pledged to implement the following measures: 1. Full liquidity guarantee: All depleted funding pools will be fully replenished, ensuring that every user can convert YU tokens to USDC at a 1:1 ratio; 2. Information transparency: A clear roadmap outlining the liquidity restoration plan and system security enhancements will be released within the next 48 hours.
Coingecko data shows that the price of Yala's stablecoin YU is currently $0.11 and has not yet restored its anchor.
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