Acala Network became the latest Defu network to suffer an exploit after hackers breached the network and issued 1.2 billion aUSD tokens.
The Polkadot-based network issues aUSD as its native stablecoin. aUSD is a decentralized stablecoin collateralized with several other crypto assets and minted through Collateralized Debt Positions (CDPs).
Although overcollateralized, the dollar-pegged stablecoin lost its peg immediately after the hack, dropping by 99% and now trading at $0.00987.
Source: https://beincrypto.com/acala-network-ausd-depegs-by-99-as-hacker-issues-over-1-billion-tokens/