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SafeDollar Suffers Exploit, SDO Falls to $0

Published 06/28/2021, 10:30 AM
SafeDollar Suffers Exploit, SDO Falls to $0

  • SafeDollar has just suffered an exploit, the crypto announced on its Telegram.
  • The announcement said to instantly stop all activities.
  • The value of the stablecoin fell to zero.

As per the latest reports, SafeDollar which is based on Polygon has just been hit by an exploit. The protocol announced the incident on its Telegram channel.

The announcement stated that SafeDollar has paused all activities. Further, it said that investigations are underway. The DeFi protocol, which is an algorithmic stablecoin, plummetted to a value of zero following the attack.

“SafeDollar has been under attack. We have paused activities on SafeDollar and investigating the matter. IMPORTANT: PLEASE STOP ALL TRADING RELATED TO $SDO. We will announce the post-mortem after the investigation done with compensation plan for Liquidity Providers,” — SafeDollar Announcement

This article was first published on coinquora.com

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