PANews reported on September 17th that Yala has released a post-mortem analysis of the September 14th attack, detailing the timeline of the incident, analysis results, and its recovery plan. According to the report, a hacker abused a temporary deployment key during authorized bridge deployment to set up an unauthorized cross-chain bridge and withdraw 7.64 million USDC (approximately 1,636 ETH). The YU price briefly decoupled from the USDC to $0.20 before stabilizing at $0.94. No protocol vulnerabilities were exploited, and no Bitcoin reserves were compromised. Following the unauthorized overissuance of 30 million YU tokens to Solana, the hacker has returned a significant portion of the assets. The current status is as follows: 22.287 million YU tokens have been returned, and the remaining 7.713 million YU have been converted to 1,635,572 ETH. Regarding the recovery plan, all illegally generated YU will be destroyed on September 23rd, and liquidity will be fully restored: every user will be able to redeem YU for USDC at a 1:1 ratio. Some users were unfairly liquidated and penalized due to the YU decoupling. Starting September 23rd, Yala will initiate a claims process for liquidation penalty compensation.PANews reported on September 17th that Yala has released a post-mortem analysis of the September 14th attack, detailing the timeline of the incident, analysis results, and its recovery plan. According to the report, a hacker abused a temporary deployment key during authorized bridge deployment to set up an unauthorized cross-chain bridge and withdraw 7.64 million USDC (approximately 1,636 ETH). The YU price briefly decoupled from the USDC to $0.20 before stabilizing at $0.94. No protocol vulnerabilities were exploited, and no Bitcoin reserves were compromised. Following the unauthorized overissuance of 30 million YU tokens to Solana, the hacker has returned a significant portion of the assets. The current status is as follows: 22.287 million YU tokens have been returned, and the remaining 7.713 million YU have been converted to 1,635,572 ETH. Regarding the recovery plan, all illegally generated YU will be destroyed on September 23rd, and liquidity will be fully restored: every user will be able to redeem YU for USDC at a 1:1 ratio. Some users were unfairly liquidated and penalized due to the YU decoupling. Starting September 23rd, Yala will initiate a claims process for liquidation penalty compensation.
Yala announces recovery plan: Illegally minted YU tokens will be destroyed on September 23
PANews reported on September 17th that Yala has released a post-mortem analysis of the September 14th attack, detailing the timeline of the incident, analysis results, and its recovery plan. According to the report, a hacker abused a temporary deployment key during authorized bridge deployment to set up an unauthorized cross-chain bridge and withdraw 7.64 million USDC (approximately 1,636 ETH). The YU price briefly decoupled from the USDC to $0.20 before stabilizing at $0.94. No protocol vulnerabilities were exploited, and no Bitcoin reserves were compromised.
Following the unauthorized overissuance of 30 million YU tokens to Solana, the hacker has returned a significant portion of the assets. The current status is as follows: 22.287 million YU tokens have been returned, and the remaining 7.713 million YU have been converted to 1,635,572 ETH. Regarding the recovery plan, all illegally generated YU will be destroyed on September 23rd, and liquidity will be fully restored: every user will be able to redeem YU for USDC at a 1:1 ratio. Some users were unfairly liquidated and penalized due to the YU decoupling. Starting September 23rd, Yala will initiate a claims process for liquidation penalty compensation.
Market Opportunity
YALA Price(YALA)
$0,01576
$0,01576$0,01576
USD
YALA (YALA) Live Price Chart
Disclaimer: The articles reposted on this site are sourced from public platforms and are provided for informational purposes only. They do not necessarily reflect the views of MEXC. All rights remain with the original authors. If you believe any content infringes on third-party rights, please contact service@support.mexc.com for removal. MEXC makes no guarantees regarding the accuracy, completeness, or timeliness of the content and is not responsible for any actions taken based on the information provided. The content does not constitute financial, legal, or other professional advice, nor should it be considered a recommendation or endorsement by MEXC.
You May Also Like
Crypto News: Donald Trump-Aligned Fed Governor To Speed Up Fed Rate Cuts?
The post Crypto News: Donald Trump-Aligned Fed Governor To Speed Up Fed Rate Cuts? appeared on BitcoinEthereumNews.com. In recent crypto news, Stephen Miran swore in as the latest Federal Reserve governor on September 16, 2025, slipping into the board’s last open spot right before the Federal Open Market Committee kicks off its two-day rate discussion. Traders are betting heavily on a 25-basis-point trim, which would bring the federal funds rate down to 4.00%-4.25%, based on CME FedWatch Tool figures from September 15, 2025. Miran, who’s been Trump’s top economic advisor and a supporter of his trade ideas, joins a seven-member board where just three governors come from Democratic picks, according to the Fed’s records updated that same day. Crypto News: Miran’s Background and Quick Path to Confirmation The Senate greenlit Miran on September 15, 2025, with a tight 48-47 vote, following his nomination on September 2, 2025, as per a recent crypto news update. His stint runs only until January 31, 2026, stepping in for Adriana D. Kugler, who stepped down in August 2025 for reasons not made public. Miran earned his economics Ph.D. from Harvard and worked at the Treasury back in Trump’s first go-around. Afterward, he moved to Hudson Bay Capital Management as an economist, then looped back to the White House in December 2024 to head the Council of Economic Advisers. There, he helped craft Trump’s “reciprocal tariffs” approach, aimed at fixing trade gaps with China and the EU. He wouldn’t quit his White House gig, which irked Senator Elizabeth Warren at the September 7, 2025, confirmation hearings. That limited time frame means Miran gets to cast a vote straight away at the FOMC session starting September 16, 2025. The full board now features Chair Jerome H. Powell (Trump pick, term ends 2026), Vice Chair Philip N. Jefferson (Biden, to 2036), and folks like Lisa D. Cook (Biden, to 2028) and Michael S. Barr…
Share
BitcoinEthereumNews2025/09/18 03:14
What Is Ripple Doing at Davos — and Who’s With Them?
Ripple wasn’t just attending Davos — it sponsored the USA House event, a private hub for U.S. companies, policymakers, and influential global leaders to debate
Share
Coinstats2026/01/20 16:49
Vitalik Buterin Reveals Ethereum’s Long-Term Focus on Quantum Resistance
TLDR Ethereum focuses on quantum resistance to secure the blockchain’s future. Vitalik Buterin outlines Ethereum’s long-term development with security goals. Ethereum aims for improved transaction efficiency and layer-2 scalability. Ethereum maintains a strong market position with price stability above $4,000. Vitalik Buterin, the co-founder of Ethereum, has shared insights into the blockchain’s long-term development. During [...] The post Vitalik Buterin Reveals Ethereum’s Long-Term Focus on Quantum Resistance appeared first on CoinCentral.
Share
Coincentral2025/09/18 00:31