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Yala stablecoin YU once fell to 0.2074 USD and has now re-pegged.
Odaily News According to DEX Screener, the Yala stablecoin YU, invested by Polychain, has experienced depeg from 5:14 UTC+8 today, dropping to a low of 0.2074 USD, and has now rebounded to 0.923 USD. In addition, the current liquidity of USDC in the YU/USDC LP on Uniswap on Ethereum is only 1,450 USD. On-chain data shows that a suspicious address: 0x29…74F5 minted 10 million YU from a Null address between 4:10-4:13 UTC+8 today, and redeemed 5.213 million YU for 5.213 million USDC through Yala PSM; subsequently, the address purchased ETH with 5.213 million USDC and dispersed it to dozens of addresses at 10.1 ETH per address.