The YU bitcoin-backed <button class="define-target" id="stablecoin">stablecoin</button> list its intended dollar <button class="define-target" id="peg">peg</button> after what they described as "an attempted attack", later writing that there was an "unauthorized transfer of funds". Although they initially wrote that "All funds are safe", they later stated that they "identified the stolen assets on-chain and are actively working with law enforcement to pursue recovery." Research firm Lookonchain observed a large mint of the YU token that may have been related — if so, the attacker successfully stole at least 1,501&nbsp;ETH ($6.75&nbsp;million), and holds a substantial quantity of YU they still haven't sold.<p>Despite the project's attempted reassurances, the YU stablecoin lost its $1 peg, plummeting as low as around $0.20. As of writing, about a day later, the stablecoin is still well below its peg, at around $0.94.</p>

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