Safe Dollar (SDO) on Polygon was “mined” $ 248,000, token value dropped to 0

The Safe Dollar (SDO) algorithmic stablecoin undertaking developed on Polygon (MATIC) seems to have run into bother when $ 248,000 was immediately withdrawn fro...

Safe Dollar (SDO) on Polygon was "mined" $ 248,000, token price dropped to 0

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The Safe Dollar (SDO) algorithmic stablecoin undertaking developed on Polygon (MATIC) seems to have run into bother when $ 248,000 was immediately withdrawn from the good contract, inflicting the token value to drop to 0.

This morning (June 28), Safe Dollar’s good contract recorded two withdrawals of $ 248,000 in USDT and USDC respectively. The undertaking didn’t announce this on its official Twitter web page and solely left a message on the Telegram group that Safe Dollar was hacked and suggested customers to cease SDO trading.

Safe Dollar SDO on Polygon was mined 248000 token

Immediately after the announcement, the SDO’s worth dropped to zero, in keeping with info from the Safe Dollar web site.

Safe Dollar SDO on Polygon was mined 248000 token

Notably, this is not the primary time Safe Dollar has been “hacked” in current occasions. On June 22, Safe Dollar was hacked with almost $ 95,000 in damages.

At the time of writing, Safe Dollar has not offered additional info on the standing of the undertaking.

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