Acala

On-chain setup error

Estimated loss

$52.00M

VERDICT —UNRATED

Verdict pending. Auto-ingested incidents are reviewed before a public verdict is rendered.

▰ METHOD

Undisclosed

Root cause

Root-cause analysis not yet published. The incident description below contains all currently available signal — review the attack transaction directly for definitive forensics.

Forensic narrative

The Polkadot ecological project Acala caused an additional issuance of aUSD due to an error on the chain, allowing attackers to mint aUSD. The vulnerability caused aUSD to lose its peg to the US dollar, initially falling to $0.60 and hovering around $0.90. Acala suspended the protocol shortly after the attack and disabled the transfer of the stolen aUSD and the attackers exchanging Acala tokens for some of the aUSD. Attack method (per SlowMist): On-chain setup error. Reported loss: $ 52,000,000.

Primary source

https://medium.com/acalanetwork/updates-on-the-ausd-incident-22-august-2022-997efec98b35 ↗

Sourced from

slowmist

Technical record