Algorithmic stablecoin SafeDollar collapsed to zero after the second attack in a week.
A project from the space of decentralized funds for the development of the algorithmic stablecoin SafeDollar based on the Polygon network (MATIC) was attacked, the developers said in their Telegram channel.
They asked users to stop trading SDOs on exchanges, but it was too late for that - the stablecoin rate, which should be supported by about one dollar, collapsed to zero.
According to the blockchain, assets in USDC and USDT stablecoins were withdrawn from the SafeDollar contract.
So don’t keep your money on “random” stable coins...
