Стейблкоин YU от Yala теряет привязку к доллару на фоне внезапного падения и подозрительной активности Yalas YU Stablecoin Decouples from the Dollar Amid Sudden Plunge and Suspicious Activity

On November 17, the YU stablecoin from the Yala project lost its peg to the US dollar, drawing the attention of community members.

According to CoinMarketCap, the asset’s price plummeted by 49.6% in just one day, reaching $0.4.

Conversely, CoinGecko reports a stablecoin price of $0.9.

Users on X are actively debating the coin’s decoupling, pointing to suspicious activities associated with addresses linked to the Yala team.

On November 14, DeFi researchers from YAM highlighted «red flags» indicating the project is in critical condition. Notably, a wallet connected to the issuer borrowed all available USDC and YU on the Euler Finance platform and has not returned the funds.

Creditors are unable to recover their assets as they remain locked. As a result, the Euler team had to disable the option to issue new loans secured by the mentioned stablecoins.

Analysts have also noted the low liquidity of YU in EVM-compatible networks. Although liquidity pools for the stablecoin appear substantial, they are comprised of 90% of the token itself. Currently, exchanging them for USDC is not possible.

The total accessible liquidity of $1 million in USDC is concentrated in the Solana network, where the stablecoin is still pegged to the dollar.

Experts noted they have been unable to reach the Yala team, as they have not responded to inquiries on any social media platforms.

On November 16, representatives from the issuer posted on X that they are «aware of the concerns arising within the community» and are conducting an investigation. The developers promised to provide additional information shortly.

According to the Yala website, there are 91.2 million «legal» YUs in circulation. The total value of assets locked in the protocol exceeds $207 million.

The DEX Screener indicates that the liquidity in the YU/USDC pool on Uniswap is only around $195,000.

In September, the project suffered a hacking attack, where the attacker unauthorizedly created 120 million YUs in the L2 network Polygon. The attacker then exchanged 7.71 million tokens for 7.7 million USDC on Ethereum and Solana.

With the obtained funds, the attacker purchased 1,501 ETH, distributing them across several wallets.

The Yala team assured the full recovery of the affected liquidity pools and the possibility for users to exchange YU for USDC at a 1:1 ratio.

Following the hack, the price of YU crashed to $0.3.

It’s worth mentioning that at the beginning of November, the USDX stablecoin from Stable Labs lost its peg to the dollar and dropped to $0.3.