{"id":91102,"date":"2025-11-17T12:57:17","date_gmt":"2025-11-17T09:57:17","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=91102"},"modified":"2025-11-17T13:02:56","modified_gmt":"2025-11-17T10:02:56","slug":"polychain-and-galaxy-backed-yu-stablecoin-loses-its-dollar-peg","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/polychain-and-galaxy-backed-yu-stablecoin-loses-its-dollar-peg\/","title":{"rendered":"Polychain- and Galaxy-backed YU stablecoin loses its dollar peg"},"content":{"rendered":"<p>On November 17, Yala\u2019s YU <a href=\"https:\/\/forklog.com\/en\/news\/what-are-stablecoins\">stablecoin<\/a> slipped its dollar peg, according to community reports.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"zh\" dir=\"ltr\">\u521a\u7761\u9192\uff0c\u770b\u89c1 <a href=\"https:\/\/twitter.com\/search?q=%24Yala&#038;src=ctag&#038;ref_src=twsrc%5Etfw\">$Yala<\/a> \u7684\u7a33\u5b9a\u5e01 YU \u53c8\u8131\u951a\u4e86<\/p>\n<p>\u6700\u4f4e\u751a\u81f3\u6389\u5230 0.47 \u7f8e\u5143\uff0c\u4e00\u5ea6\u5f15\u53d1\u793e\u533a\u5927\u6050\u614c<\/p>\n<p>\u6211\u67e5\u4e86\u4e0b\u5386\u53f2\u539f\u56e0\uff0c\u5176\u5b9e\u8fd9\u6b21\u7684\u95ee\u9898\u4e0d\u662f\u7a81\u7136\u7206\u51fa\u6765\u7684\uff0c\u800c\u662f \u5386\u53f2\u6f0f\u6d1e + \u501f\u8d37\u5371\u673a + \u6d41\u52a8\u6027\u4e0d\u8db3 \u4e09\u4e2a\u56e0\u7d20\u53e0\u52a0<\/p>\n<p>\u5148\u56de\u987e\u4e00\u4e0b\u80cc\u666f\uff1a<\/p>\n<p>\u4eca\u5e74 9 \u6708\uff0cYala \u7528\u7684 LayerZero \u6865\u51fa\u73b0\u914d\u7f6e\u95ee\u9898\uff0c\u9ed1\u5ba2\u5229\u7528 OFT \u8bbe\u7f6e\u4e0d\u5f53\u76f4\u63a5\u2026 <a href=\"https:\/\/t.co\/cJnLpjF49Z\">pic.twitter.com\/cJnLpjF49Z<\/a><\/p>\n<p>\u2014 \u5e01\u5708\u8001\u53f8\u673a\ud83d\udd36BNB (@Bqlsj2023) <a href=\"https:\/\/twitter.com\/Bqlsj2023\/status\/1990261318230605906?ref_src=twsrc%5Etfw\">November 17, 2025<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>According to <a href=\"https:\/\/coinmarketcap.com\/currencies\/yala-org\/\">CoinMarketCap<\/a>, the token fell 49.6% in 24 hours to $0.4.<\/p>\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"445\" src=\"https:\/\/forklog.com\/wp-content\/uploads\/img-063313a9b00fd5e8-9766018538540892-1024x445.png\" alt=\"image\" class=\"wp-image-269866\" srcset=\"https:\/\/forklog.com\/wp-content\/uploads\/img-063313a9b00fd5e8-9766018538540892-1024x445.png 1024w, https:\/\/forklog.com\/wp-content\/uploads\/img-063313a9b00fd5e8-9766018538540892-300x130.png 300w, https:\/\/forklog.com\/wp-content\/uploads\/img-063313a9b00fd5e8-9766018538540892-768x334.png 768w, https:\/\/forklog.com\/wp-content\/uploads\/img-063313a9b00fd5e8-9766018538540892-1536x667.png 1536w, https:\/\/forklog.com\/wp-content\/uploads\/img-063313a9b00fd5e8-9766018538540892.png 1600w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">Source: CoinMarketCap.<\/figcaption><\/figure>\n<p>On <a href=\"https:\/\/www.coingecko.com\/en\/coins\/yala-stablecoin\">CoinGecko<\/a>, however, the stablecoin is quoted at $0.9:<\/p>\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"436\" src=\"https:\/\/forklog.com\/wp-content\/uploads\/img-1c575ce03d8333c5-9766042068986327-1024x436.png\" alt=\"image\" class=\"wp-image-269867\" srcset=\"https:\/\/forklog.com\/wp-content\/uploads\/img-1c575ce03d8333c5-9766042068986327-1024x436.png 1024w, https:\/\/forklog.com\/wp-content\/uploads\/img-1c575ce03d8333c5-9766042068986327-300x128.png 300w, https:\/\/forklog.com\/wp-content\/uploads\/img-1c575ce03d8333c5-9766042068986327-768x327.png 768w, https:\/\/forklog.com\/wp-content\/uploads\/img-1c575ce03d8333c5-9766042068986327-1536x654.png 1536w, https:\/\/forklog.com\/wp-content\/uploads\/img-1c575ce03d8333c5-9766042068986327.png 1600w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">Source: CoinGecko.<\/figcaption><\/figure>\n<p>Users on X are actively discussing the depeg, noting suspicious activity by addresses associated with the Yala team.<\/p>\n<p>On November 14, <a href=\"https:\/\/forklog.com\/en\/news\/what-is-decentralised-finance-defi\">DeFi<\/a> researchers YAM pointed to \u201cred flags\u201d indicating the project is in critical condition. In particular, a wallet linked to the issuer borrowed all available <a href=\"https:\/\/forklog.com\/en\/news\/what-is-the-usdc-stablecoin\">USDC<\/a> and YU on Euler Finance and has not returned the funds.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">We&#8217;re seeing some red flags about <a href=\"https:\/\/twitter.com\/yalaorg?ref_src=twsrc%5Etfw\">@yalaorg<\/a>\u2019s stablecoin <a href=\"https:\/\/twitter.com\/search?q=%24YU&#038;src=ctag&#038;ref_src=twsrc%5Etfw\">$YU<\/a>.<\/p>\n<p>Back in September, <a href=\"https:\/\/twitter.com\/search?q=%24YU&#038;src=ctag&#038;ref_src=twsrc%5Etfw\">$YU<\/a>&#8216;s backing lost around $7.6M as a result of a faulty OFT LayerZero bridge setup where an attacker gained unauthorized access to mint <a href=\"https:\/\/twitter.com\/search?q=%24YU&#038;src=ctag&#038;ref_src=twsrc%5Etfw\">$YU<\/a>. The Yala team claims that they found the exploiter and\u2026<\/p>\n<p>\u2014 YAM \ud83c\udf31 (@yieldsandmore) <a href=\"https:\/\/twitter.com\/yieldsandmore\/status\/1989346760641122537?ref_src=twsrc%5Etfw\">November 14, 2025<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Lenders cannot withdraw assets because they are locked. The Euler team disabled the ability to take out new loans against the aforementioned stablecoins.<\/p>\n<p>Analysts also pointed to thin YU liquidity across <a href=\"https:\/\/forklog.com\/en\/news\/what-is-the-ethereum-virtual-machine-evm\">EVM<\/a>-compatible networks. On paper, the stablecoin pools look large, but about 90% consists of YU itself. Swapping to USDC is currently impossible.<\/p>\n<p>All available liquidity, amounting to $1m in USDC, is concentrated on <a href=\"https:\/\/forklog.com\/en\/news\/what-is-solana-sol\">Solana<\/a>, where the dollar peg still holds for now.<\/p>\n<p>Experts added that they cannot reach the Yala team, which has not responded to requests on any social network.<\/p>\n<p>On November 16, the issuer wrote on X that it was \u201caware of the recent community concerns\u201d and is investigating. The developers promised to provide more information soon.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">We\u2019re aware of the recent community concerns and are actively looking into them. More updates coming soon.<\/p>\n<p>\u2014 Yala (@yalaorg) <a href=\"https:\/\/twitter.com\/yalaorg\/status\/1989933457137701136?ref_src=twsrc%5Etfw\">November 16, 2025<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>According to Yala\u2019s <a href=\"https:\/\/yala.org\/\">site<\/a>, 91.2m \u201clegitimate\u201d YU are in circulation. The total value locked in the protocol exceeds $207m.<\/p>\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"301\" src=\"https:\/\/forklog.com\/wp-content\/uploads\/img-e5266e3b691cf223-9766083428745437-1024x301.png\" alt=\"image\" class=\"wp-image-269868\" srcset=\"https:\/\/forklog.com\/wp-content\/uploads\/img-e5266e3b691cf223-9766083428745437-1024x301.png 1024w, https:\/\/forklog.com\/wp-content\/uploads\/img-e5266e3b691cf223-9766083428745437-300x88.png 300w, https:\/\/forklog.com\/wp-content\/uploads\/img-e5266e3b691cf223-9766083428745437-768x226.png 768w, https:\/\/forklog.com\/wp-content\/uploads\/img-e5266e3b691cf223-9766083428745437-1536x451.png 1536w, https:\/\/forklog.com\/wp-content\/uploads\/img-e5266e3b691cf223-9766083428745437.png 1600w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">Source: <a href=\"https:\/\/defillama.com\/protocol\/yala\">DefiLlama<\/a>.<\/figcaption><\/figure>\n<p><a href=\"https:\/\/dexscreener.com\/ethereum\/0xe868084cf08f3c3db11f4b73a95473762d9463f7\">DEX Screener<\/a> shows liquidity in the <a href=\"https:\/\/forklog.com\/en\/news\/what-are-liquidity-pools-and-how-do-they-work\">pool<\/a> YU\/USDC on <a href=\"https:\/\/forklog.com\/en\/news\/what-is-uniswap-uni\">Uniswap<\/a> is only about ~$195,000.<\/p>\n<h2 class=\"wp-block-heading\">Yala hack<\/h2>\n<p>In September, the project <a href=\"https:\/\/forklog.com\/en\/news\/yala-team-explains-stablecoins-plunge-to-0-3\">was hit by<\/a> a hack. The attacker minted 120m YU without authorization on Polygon\u2019s <a href=\"https:\/\/forklog.com\/en\/news\/what-is-a-layer%e2%80%912-solution-in-blockchain\">L2<\/a> network, then swapped 7.71m tokens for 7.7m USDC on Ethereum and Solana.<\/p>\n<p>With the proceeds, he bought 1,501 ETH and distributed it across several wallets.<\/p>\n<p>The Yala team guaranteed full restoration of affected liquidity pools and the ability for users to swap YU for USDC at 1:1.<\/p>\n<p>YU fell to $0.3 in the wake of the hack.<\/p>\n<p>Earlier in November, Stable Labs\u2019 USDX <a href=\"https:\/\/forklog.com\/en\/news\/usdx-stablecoin-loses-its-dollar-peg-drops-to-0-30\">lost<\/a> its dollar peg and fell to $0.3.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>On November 17, Yala\u2019s YU stablecoin lost its dollar peg, according to community reports.<\/p>\n","protected":false},"author":1,"featured_media":91103,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"Yala\u2019s YU stablecoin depegs; liquidity thins as team probes and communications lag.","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[807],"class_list":["post-91102","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-stablecoins"],"aioseo_notices":[],"amp_enabled":true,"views":"118","promo_type":"1","layout_type":"1","short_excerpt":"Yala\u2019s YU stablecoin depegs; liquidity thins as team probes and communications lag.","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/91102","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=91102"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/91102\/revisions"}],"predecessor-version":[{"id":91104,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/91102\/revisions\/91104"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/91103"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=91102"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=91102"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=91102"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}