USDs Reboot Complete
At 12:00pm ET 5:00pm GMT, USDs resumed normal operation.
At 12:00pm ET 5:00pm GMT, USDs resumed normal operation.
Minting, redeeming and transacting of USDs had been paused following a code exploit which occurred on February 3rd. Read more about the cause of the exploit here.
The bug has since been patched and the funds retrieved by the Sperax Core team with the help of Peckshield, Binance and Arbitrum. Lean more about what happened during the team AMA which occurred on February 8th.
Special Thanks
A special thanks is owed to two specific community members who supported the SperaxDAO in finding the exploiter. Isao and XJ from the Peckshield Telegram community did the behind the scenes tracking work to find the exploiters twitter and CEX affiliated address. This was key to starting conversation between the exploiter and the Sperax team.
Additional help was greatly appreciated from Twitter users danielvf & spreekaway & FungiAlpha.
Resuming Operation
Minting, redeeming and transfering of USDs are now operating as normal.
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About Us
Sperax USD is a stablecoin and yield automator on Arbitrum. Hold $USDs and earn Auto-Yield. Stake $SPA to govern the collateral investment strategy.
Read more at sperax.io and join the Sperax community!