Stablecoin SafeDollar Hit by Cyberattack
28 Jun, 2021•1 min read•Altcoins
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.