Stablecoin SafeDollar Hit by Cyberattack
SafeDollar, a decentralized finance (DeFi) stablecoin that is based on the Polygon blockchain, has been hit by an cyberattack, according a statement on its Telegram channel.
- All activities on SafeDollar have been paused and investigations are underway, it said.
- “IMPORTANT: PLEASE STOP ALL TRADING RELATED TO $SDO,” it added.
- The value of SafeDollar has dropped to $0, according to the protocol’s website.
- The cyberattack used tether and USD coin, beincrypto.com reported, citing a tweet by DeFi analytics site Rugdoc.io Monday.
- The contract address shows SafeDollar, USDC and USDT were siphoned off.
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