Express
Yala to Destroy Illegally Minted YU Tokens on September 23
Summary: Stablecoin protocol Yala revealed in a recent post-mortem report that hackers exploited temporary keys on September 13 to create a fake cross-chain bridge, minting 30 million YU tokens and cashing out approximately 7.64 million USDC (1636 ETH). Some funds have flowed into Tornado Cash. The incident did not involve Bitcoin reserves. The hackers have returned ...
Stablecoin protocol Yala revealed in a recent post-mortem report that hackers exploited temporary keys on September 13 to create a fake cross-chain bridge, minting 30 million YU tokens and cashing out approximately 7.64 million USDC (1636 ETH). Some funds have flowed into Tornado Cash. The incident did not involve Bitcoin reserves. The hackers have returned around 22.28 million YU tokens. Yala announced it will destroy all illegally minted YU tokens on September 23, resume 1:1 exchange with USDC, initiate liquidation compensation claims process, and enhance cross-chain security audits and multi-party control mechanisms.
