Following the mining failure involving its stablecoin aUSD, the Acala Network announced on Monday it had started again its operations carrying out a referendum allowing LPs to withdraw liquidity from pools or unstake LP tokens.
The city referendum for Stage 1 of resuming Acala operations has transpired and been performed.
LPs that like to unstake LP tokens or withdraw liquidity on Acala now can achieve this. https://t.co/yzvOz7zwxT
— Acala (@AcalaNetwork) September 26, 2022
In August, a misconfiguration from the iBTC/aUSD liquidity pool brought to some 3.022 billion aUSD to become erroneously minted, taking its cost to under $.01 from the dollar peg. Acala is really a decentralized finance platform built around the Polkadot (Us dot) ecosystem.
The wallet addresses which had received the minted aUSD happen to be identified via on-chain tracing, allowing the recovery of two.97 billion aUSD mistake mints from 16 addresses. Other thirty-five accounts were recognized as getting acquired 12.38 million erroneously minted aUSD.
According towards the incident report, 16 iBTC/aUSD LP contributors received the mistake mints, and a number of them frequently added more liquidity towards the pool, claiming more aUSD error mints and leading to more aUSD being erroneously minted. It noted:
“A few of these users frequently swapped more aUSD error mints because the imbalance of pools increased. Then they transferred a lot of aUSD error mints with other XCM-connected chains and CEXs.”
The reason for the incident “would be a vulnerability within the DEX saving code that belongs to the incentives pallet”, stated the organization, that also announced a burglar roadmap to bolster the safety from the Acala network.
The report revealed the entire extent from the event. Apparently as many as 3.022B aUSD error were minted, 2.97 billion aUSD were based in the addresses from the 16 identified LP contributors, and 12.38M aUSD error mints were located on the top 35 accounts that acquired a lot of aUSD error mints or were from the accounts that acquired it. A remaining 52.068M aUSD error mints, error mint-swapped tokens and address active in the incident were identified.
