The blockchain-based platform, Origin Protocol has confirmed that its stablecoin, Origin Dollar (OUSD) has been hacked for $7 million in Ethereum and DAI.
Stablecoin project Origin Dollar (OUSD) Hacked
According to the official post, the stablecoin project Origin Dollar (OUSD) suffered a re-entrancy attack at 00:47 UTC on Tuesday. Due to this, the OUSD has lost almost $7 million. This includes more than $1 million deposited by Origin and its founders and employees.
Another one bites the dust: Origin Dollar (OUSD) exploited for $2.25m in DAI and $1m in Ethereum.
Flash loan attacker/exploiter is already washing the funds via RenBTC. pic.twitter.com/3VouT7AiJe
The platform has now stopped deposits and the price of the token is down by more than 83% since the attack. In an official post, the founder of Origin Protocol, Mathew Lui further said that out of $7 million hacked stablecoin, approxima...
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