UXD Protocol Affected by Nearly $20 Million in Mango Attack

Oct 12,2022
KingData News: Solana Ecological Stability Protocol UXD Protocol was affected in the Mango attack with a total of $19,986,134.9037. UXD Protocol said, "Our insurance fund has more than enough capital to cover losses. UXD is 100% backed and users will be able to redeem once Mango Markets recovers from the exploit. The insurance fund has a total of $53,527,304.7757 in capital. UXD Protocol has paused minting of UXD temporarily to minimize risk. Once we are confident that the issue with Mango Markets is solved, we will re-enable minting.” In the meantime, users can swap UXD for USDC at JupiterExchange. There is enough liquidity for UXD holders to swap for USDC at par value.
This metrics provides a follow-up of hack incidents such as the exploitation of the Harmony-eco cross-chain bridge Horizon and the NFT lending protocol XCarnival.
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