VUSD: VUSD worth over 13 million dollars was stolen, but the hacker only profited 1.5 million dollars. Services will be restored after the investigation is completed

ChainCatcher news, VUSD announced on its Telegram channel that the Onyx Protocol has encountered a security vulnerability, resulting in the theft of over 13 million dollars worth of VUSD. Following the incident, the smart contract has been paused, and it has been confirmed that the VUSD codebase and reserves have no vulnerabilities.

The hacker subsequently sold the stolen VUSD into liquidity pools, leading to a secondary market liquidity loss of approximately 1.5 million dollars. Malicious actors will be blacklisted according to the terms of service, and after the investigation is completed, the VUSD smart contract services will be restored, allowing participants to continue arbitraging. VUSD is still fully backed by over-collateralized assets, and institutional users can redeem and mint VUSD at market prices. VUSD is working with Onyx DAO and relevant authorities to identify the attackers and plans to explore the necessary licenses for retail redemptions in the future.

It is reported that due to the theft affecting Onyx, VUSD briefly depegged and dropped to 0.6599 dollars.