DeFi Protocol Acala Network Hacked of 1.2B AUSD Stablecoin
The Polkadot parachain Acala implements the Horizon cross-chain stablecoin protocol. The attackers’ excessive minting of aUSD stablecoin caused its value to plummet. Many people see Polkadot as the next logical step for Ethereum’s ecosystem. While it has shown promise in certain respects, a major attack was discovered today using one