Acala Network – a DeFi platform run on Polkadot – was hacked today due to an exploit from one of the liquidity pools available. A tweet from the team was released brining attention to the matter.
The team has since identified the issue to be a misconfiguration of the iBTC/aUSD pool that went live earlier today. This resulted in error mints of up to 1.2 billion in Acala Dollar (aUSD).
The team has stated that the misconfigured pool has since been rectified and all addresses that received the “errorneously” minted aUSD have been identified and blacklisted.
Acala urges any recipients of the newly minted aUSD to return them to the appropriate wallets. Any wallet seen doing so will be deemed as “whitehat.”
Functions such as swap, xcm, honzon-related, etc on Acala have been paused until further notice.
Acala says they will continue to monitor on-chain activity and share results with the community to come up with a proposal of resolving the error and restoring the aUSD peg which has since dipped to a low of $0.5713 and is sitting at $0.9666 at the time of writing.