Yala Response to YU Unpegging: ETH Price Drop Leads to Asset Depreciation, Commits to Providing a Clear Plan by December 15
By: theblockbeats.news|2025/11/18 02:45:54
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BlockBeats News, November 18th, Yala's official statement on the anchor release of its stablecoin YU and liquidity crisis.
· On September 14, 2025, Yala suffered a hack, losing $7.64 million USDC (equivalent to about 1636 ETH at the time). Although this incident caused YU to temporarily unpeg, there were no vulnerabilities in the core protocol. The team injected $5.5 million of funds to maintain stability. Subsequently, YU reanchored, and the protocol resumed normal operation.
· On October 29, 2025, the Bangkok law enforcement agency arrested the hacker, and most of the affected funds were recovered from the hacker. The case is currently in the judicial review stage. However, due to some funds being converted to ETH before recovery, the subsequent price drop and the funds consumed by the attacker have led to a reduction in the actual recovery value.
· A recent retail exodus from the DeFi market has triggered further panic, putting additional pressure on an already illiquid market. Euler has also been affected. The previously used positions and liquidity to stabilize YU are currently restricted.
· Yala did not integrate with the Kamino lending product, and the AyCJ initial wallet is not owned by the Yala team or related members.
· The team is assessing the scale of funding required for stabilization in the market and is working with law enforcement agencies and funding partners to advance financing. Given the current liquidity squeeze of multiple protocols and assets, this process will take time. The team commits to announcing a specific plan by December 15, 2025, including the fund recovery path and subsequent operational measures.
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