{"id":65976,"date":"2022-08-18T10:44:54","date_gmt":"2022-08-18T07:44:54","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=65976"},"modified":"2025-09-06T22:56:46","modified_gmt":"2025-09-06T19:56:46","slug":"acala-team-blocks-2-97-billion-erroneously-minted-ausd","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/acala-team-blocks-2-97-billion-erroneously-minted-ausd\/","title":{"rendered":"Acala team blocks 2.97 billion erroneously minted aUSD"},"content":{"rendered":"<p>The Acala parachain team in the Polkadot ecosystem has returned 2.97 billion aUSD stablecoins minted as a result of the exploit.<\/p>\n<p>The incident <a href=\"https:\/\/forklog.com\/en\/news\/ausd-stablecoin-plunges-to-0-05-after-hacker-attack\">occurred<\/a> due to a bug in Acala&#8217;s smart contract that manages the iBTC\/aUSD liquidity pool. The bug allowed 16 addresses to mint more than 3 billion &#8216;stablecoins&#8217;.<\/p>\n<p>As a result of the first trace, the Acala team identified 1.29 billion erroneously minted aUSD across 16 addresses. The assets were blocked pending a community decision.<\/p>\n<blockquote class=\"twitter-tweet\" data-lang=\"en\">\n<p lang=\"en\" dir=\"ltr\">Incident trace report #1: This is the 1st published batch of trace results. The 1.288B erroneously minted aUSD have been identified and their transfers are disabled until a pending Acala community governance decision resolves the error.<\/p>\n<p>Thread below:<a href=\"https:\/\/t.co\/KazsYLxzqK\">https:\/\/t.co\/KazsYLxzqK<\/a><\/p>\n<p>\u2014 Acala (@AcalaNetwork) <a href=\"https:\/\/twitter.com\/AcalaNetwork\/status\/1559129241026977793?ref_src=twsrc%5Etfw\">August 15, 2022<\/a><\/p><\/blockquote>\n<p> <script async=\"\" src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>To speed up possible response to the incident, developers tabled a proposal to shorten the voting period from five days to one day and to reduce the duration to eight hours.<\/p>\n<blockquote class=\"twitter-tweet\" data-lang=\"en\">\n<p lang=\"en\" dir=\"ltr\">Referendum #23 (Runtime upgrade to expedite referenda) is now tabled for a vote. <\/p>\n<p>\u27a1\ufe0fAcala voters can vote here: <a href=\"https:\/\/t.co\/oDLJ8HJc4l\">https:\/\/t.co\/oDLJ8HJc4l<\/a><\/p>\n<p>Related community proposal: <a href=\"https:\/\/t.co\/Lwh2ISrXys\">https:\/\/t.co\/Lwh2ISrXys<\/a><\/p>\n<p>\u2014 Acala (@AcalaNetwork) <a href=\"https:\/\/twitter.com\/AcalaNetwork\/status\/1560038883257196545?ref_src=twsrc%5Etfw\">August 17, 2022<\/a><\/p><\/blockquote>\n<p> <script async=\"\" src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>The first traced amount, per the community decision, was returned to the Honzon protocol for burning.<\/p>\n<p>The decision on the second trace tranche of 1.68 billion erroneous coins was brought to the community for consideration.<\/p>\n<blockquote class=\"twitter-tweet\" data-lang=\"en\">\n<p lang=\"en\" dir=\"ltr\">A community proposal related to Trace #2 was submitted earlier today to return 1.68B aUSD error mints in iBTC\/aUSD LP, &#038; other assets obtained from the aUSD error mints. A sentiment vote is live to gather reaction:<\/p>\n<p>Proposal: <a href=\"https:\/\/t.co\/u6hGTNpXeZ\">https:\/\/t.co\/u6hGTNpXeZ<\/a><\/p>\n<p>Vote: <a href=\"https:\/\/t.co\/UQcsi6kyCA\">https:\/\/t.co\/UQcsi6kyCA<\/a><\/p>\n<p>\u2014 Acala (@AcalaNetwork) <a href=\"https:\/\/twitter.com\/AcalaNetwork\/status\/1560088978816208897?ref_src=twsrc%5Etfw\">August 18, 2022<\/a><\/p><\/blockquote>\n<p> <script async=\"\" src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Up to 99% of the stablecoins minted due to the bug remained within the network; however, a small portion was swapped for DOT tokens and sent to exchanges. The Acala team set a bounty for funds recovery.<\/p>\n<blockquote class=\"twitter-tweet\" data-lang=\"en\">\n<p lang=\"en\" dir=\"ltr\">A third trace found 176,725 DOT was sent from Acala to Polkadot by 8 of the 16 identified addresses. Of the ~176k DOT, 41,999 DOT was sent to an exchange from 1 address, and 134,726.44 DOT remain on Polkadot.<\/p>\n<p>\ud83d\udc49Bounty info in thread below<\/p>\n<p>Results: <a href=\"https:\/\/t.co\/IBcur4Ys0d\">https:\/\/t.co\/IBcur4Ys0d<\/a><\/p>\n<p>\u2014 Acala (@AcalaNetwork) <a href=\"https:\/\/twitter.com\/AcalaNetwork\/status\/1560139904625025025?ref_src=twsrc%5Etfw\">August 18, 2022<\/a><\/p><\/blockquote>\n<p> <script async=\"\" src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>As of writing, the dollar-pegged stablecoin aUSD was trading at around $0.90. After the minting of billions of additional coins, the asset&#8217;s price fell below a cent.<\/p>\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/lh4.googleusercontent.com\/WuJUWcqY9F9f3mtTtVCe6JjMOrt-Ua_YFj-gjtDYi0R4TKeIcl9Amsjt8AZU-uz_2HdHGyrrFrlNbsjbxkNJXBWW0ONxLSAnpl-iQped8_zMLXnaGU4jawHTde-QTMwIX0rPiZLvVOcvMmHuMuIlOqc\" alt=\"The Acala team blocked erroneously minted 2.97 billion aUSD\"\/><figcaption>Data: <a href=\"https:\/\/www.coingecko.com\/en\/coins\/acala-dollar\">CoinGecko<\/a>.<\/figcaption><\/figure>\n<p>Earlier, the Acala project <a href=\"https:\/\/forklog.com\/en\/news\/polkadots-first-parachain-auction-ends-acala-wins\">became the winner<\/a> of the first parachain-slot auction for Polkadot.<\/p>\n<p>Follow ForkLog&#8217;s bitcoin-news on our <a href=\"https:\/\/telegram.me\/forklog\" target=\"_blank\" rel=\"nofollow noopener\">Telegram<\/a> \u2014 cryptocurrency news, prices and analysis.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Acala parachain team in the Polkadot ecosystem has returned 2.97 billion aUSD stablecoins minted as a result of the exploit.<\/p>\n","protected":false},"author":1,"featured_media":65977,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1461,807],"class_list":["post-65976","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-polkadot-dot","tag-stablecoins"],"aioseo_notices":[],"amp_enabled":true,"views":"14","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/65976","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=65976"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/65976\/revisions"}],"predecessor-version":[{"id":65978,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/65976\/revisions\/65978"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/65977"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=65976"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=65976"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=65976"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}