Yala’s Bitcoin-collateralized YU stablecoin dropped as low as $0.2046 after an attempted protocol attack, failing to restore its $1 peg. Yala’s Bitcoin-backed stablecoin YU has failed to regain its dollar peg following an “attempted attack” early Sunday that sent the token plummeting to $0.2046. The Yala team confirmed the incident in a post on X, noting that it “briefly impacted YU’s peg.” The team added that they are working with blockchain security firm SlowMist and other security partners to investigate the breach.“Update: All funds are safe. Bitcoin deposited to Yala remains self-custodial or in vaults, with none lost,” the team wrote in their latest post on X. “We’ve identified issues and, as a precaution, paused some product features. Please wait for our green light before re-engaging,” they added.Read more Yala’s Bitcoin-collateralized YU stablecoin dropped as low as $0.2046 after an attempted protocol attack, failing to restore its $1 peg. Yala’s Bitcoin-backed stablecoin YU has failed to regain its dollar peg following an “attempted attack” early Sunday that sent the token plummeting to $0.2046. The Yala team confirmed the incident in a post on X, noting that it “briefly impacted YU’s peg.” The team added that they are working with blockchain security firm SlowMist and other security partners to investigate the breach.“Update: All funds are safe. Bitcoin deposited to Yala remains self-custodial or in vaults, with none lost,” the team wrote in their latest post on X. “We’ve identified issues and, as a precaution, paused some product features. Please wait for our green light before re-engaging,” they added.Read more