Stablecoin SafeDollar Hit by Cyberattack

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.
  • Source