Market News: Yala protocol is suspected to be hacked, and the stablecoin YU was once deaned

According to DEX Screener and on-chain data monitoring, Yala, a stablecoin project invested by Polychain, is suspected to have been hacked. YU stablecoin has experienced severe deans since 5:14 today (UTC+8), with prices falling to $0.2074 and now rebounding to about $0.923. On-chain data shows that the suspicious address 0x29…74F5 cast 10 million YU from the Null address at 4:10–4:13 (UTC+8), and redeem 5.213 million USDC through Yala PSM, and then exchanged funds into ETH and spread them to multiple addresses. Currently, there is only about $1,450 left in the YU/USDC pair on Uniswap.