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

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

Shaurya is an analyst/editor for CoinDesk’s markets team in Asia. Acala’s native stablecoin, aUSD, came close to regaining its peg to the U.S. dollar after the Polkadot-based decentralized finance (DeFi) platform burned over 1.2 billion aUSD tokens that were minted by exploiters over the weekend who took advantage of a bug in one of the platform’s liquidity pools.

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