Acala, which was hacked in August and whose stablecoin was depeg, announced the resumption of operations in a social media post today.
The company announced that there was an attack on its ecosystem product, aUSD stablecoin. As a result of this attack, the stablecoin, which was depeg with a 98 percent decrease from the dollar rate, caused users to worry. Receiving a quick reaction, the company stopped all operations and started repair work. Specifically, he tried to balance by concentrating on aUSD supply burns.
Acala Will Continue Its Services From Where It Left Off
Acala had burned nearly 1.2 billion tokens to save the aUSD stablecoin. The team restarted the activities of the network, noting that circulating aUSD stablecoins are supported.
By sharing social media, the company announced that it started serving its users three weeks after a major security problem. With the completion of the last voting, the ecosystem has become fully active.
Co-founder of Acala Bette Chensaid the following on the subject;
“All liquidity pools are now recapitalized. Also all assets have been rebalanced. All circulating aUSD supply is now fully secured. The ecosystem was ready with the community’s management votes.”
Advanced applications such as Oracle and the secured credit system were reopened to restore the DeFi chain to its pre-attack state. The company said that $10.9 million worth of stablecoins are all supported at a 1:1 ratio.
