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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’s stablecoin.  Shortly after the hack, the Acala team updated users on Twitter, noting that the exploit originated from a “misconfiguration of the iBTC/aUSD […]

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Another Stablecoin Depegs From USD Parity, Polkadot-Based AUSD Loses 98% in Value

2022 has been the year of broken stablecoins as a myriad of dollar-pegged crypto assets depegged from their dollar value this year. On August 14, the Polkadot-based stablecoin alpaca usd (AUSD) dropped below a U.S. penny in value, only to bounce back to the $0.95 region hours later. Reports say that the Acala protocol was […]

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LongHash Ventures Rolls Out Web3 Investment Fund Platform Worth $100M

In a new development, LongHash Ventures will launch a $100 million investment fund for the decentralized Web3. With more innovative products, projects, and applications, the crypto space is growing in leaps and bounds. Furthermore, blockchain technology has created more opportunities for extraordinary accomplishments in the industry and other sectors. Yet more advancements and developments are […]

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Polkadot’s Native Stablecoin aUSD Depegs Following Exploit

Attackers have struck the markets again; this time, the Acala network is on the receiving end. A few hours ago, reports broke out that the Acala dollar aUSD is being messed with by hackers who Issued 1.2 billion aUSD to themselves through a bug in the Honzon protocol. Does “over-collateralized” mean safe? Market turmoil doesn’t […]

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Polkadot (DOT) To Retest $9.88 Resistance – Can Bulls Regain Solid Footing?

Polkadot (DOT) price reveals that the extreme bullish movement pumped the price reaching $9.54. DOT price extremely bullish; set to retest $9.88 key resistance level. Support spotted at the $9.29 zone. Polkadot pumped up its price to $9.54.  DOT’s price trendline has spiked for the past couple of weeks following the coin’s overwhelming gains over […]

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Price analysis 8/12: BTC, ETH, BNB, XRP, ADA, SOL, DOGE, DOT, MATIC, AVAX

Bitcoin and many altcoins are carving out bottoming patterns as sentiment across the crypto and equities markets continues to improve. Bitcoin (BTC) could not overcome the barrier at $25,000 on Aug. 11 even though it had two catalysts in the form of a “favorable” Consumer Price Index print and news that BlackRock — the world’s […]