This Stablecoin Has Been Hacked! "Don't Buy, Don't Trade!"

Decentralized protocol Linear Protocol said in a statement on its Twitter account that its stablecoin LUSD was attacked.

At this point, Linear Finance, which issued a trading warning for LUSD, made the following statement:

“Urgent Update Response!

Linear stablecoin LUSD appears to be under an exploit attack. DO $NOT BUY LUSD, DO $NOT TRADE while the team investigates!

Purges are paused and user accounts are not at risk.

More updates will follow.”

🗣️Urgent Update Re $LUSD 📢

The Linear stable coin $LUSD appears to be under an exploit attack. While the team investigates, DO $NOT BUY LUSD, DO $NOT TRADE $LUSD

Liquidations are paused and users accounts are not at risk.

Further updates will follow.

— Linear Finance (@LinearFinance) September 21, 2023

Although the incident has been announced now, Linear Finance's token LINA has been experiencing a withdrawal since the morning hours.

*Not investment advice