Making a statement on X, the official Linear Finance account announced that the platform’s stablecoin, LUSD, was attacked.
stablecoin‘I LUSDAnnouncing that ‘s was attacked, Linear Finance said, “ LUSD buy Do not buy , do not trade. “Purges have been paused and user accounts are not at risk.” The company, which announced that information will be transferred via X as updates are made, is facing a great danger. Additionally, the stablecoin lost its anchor and fell to $0.981. This situation, which is one of the most critical events of the crypto industry, is being watched with curiosity.
🗣️Urgent Update Re $LUSD 📢
The Linear stable coin $LUSD appears to be under an exploit attack. While the team investigates, DO NOT BUY LUSD, DO NOT TRADE $LUSD
Liquidations are paused and users accounts are not at risk.
Further updates will follow.
— Linear Finance (@LinearFinance) September 21, 2023
The danger of Depeg has appeared!
LUSD, whose stability deteriorated, fell to $ 0.981. How this situation, which actually poses a great risk even though it seems low in terms of percentage, will continue is being closely monitored. If Linear Finance’s stablecoin, which has lost its anchor, cannot return to its former state as soon as possible, it will continue to pose a danger to both its ecosystem and other stablecoins in the market.
