Yala: Identified Stolen Assets and Collaborated with Law Enforcement for Recovery

BlockBeats News, September 15th, the Yala team on the X platform released an update on the recent security incident, stating that this vulnerability resulted in unauthorized fund transfers. The situation is now under control, and the stolen assets have been traced on-chain. The team is actively cooperating with law enforcement agencies to fully recover the assets.

Yala has announced three measures: first, fully replenishing all affected funds to ensure that users can exchange YU tokens for USDC at a 1:1 ratio; second, maintaining transparency by releasing a liquidity recovery and security enhancement roadmap within 48 hours; and third, continuously optimizing the system's security mechanisms.

In yesterday's news, the stablecoin project Yala was attacked. According to Coingecko data, the YU stablecoin is currently trading at $0.11, and its peg has not yet been restored.