This Stablecoin Has Been Hacked! “Don’t Buy, Don’t Trade!”
Decentralized protocol Linear Protocol said in a statement on its Twitter account that its stablecoin LUSD was attacked.
At this point, Linear Finance, which issued a trading warning for LUSD, made the following statement:
“Urgent Update Response!
Linear stablecoin LUSD appears to be under an exploit attack. DO NOT BUY LUSD, DO NOT TRADE while the team investigates!
Purges are paused and user accounts are not at risk.
More updates will follow.”
🗣️Urgent Update Re $LUSD 📢
The Linear stable coin $LUSD appears to be under an exploit attack. While the team investigates, DO NOT BUY LUSD, DO NOT TRADE $LUSD
Liquidations are paused and users accounts are not at risk.
Further updates will follow.
— Linear Finance (@LinearFinance) September 21, 2023
Although the incident has been announced now, Linear Finance’s token LINA has been experiencing a withdrawal since the morning hours.
*Not investment advice