According to BlockBeats news, on September 27, VUSD posted on the Telegram channel that Onyx Protocol suffered a security breach, resulting in the theft of more than $13 million in VUSD. After the incident, the smart contract has been suspended, and it is currently confirmed that there are no vulnerabilities in the VUSD code base and reserves.

The hacker then sold the stolen VUSD to a liquidity pool, resulting in a loss of approximately US$1.5 million in secondary market liquidity. Malicious actors will be blacklisted in accordance with the terms of service. After the investigation is completed, VUSD smart contract services will be restored and participants can continue to arbitrage.

VUSD is still fully backed by over-collateralized assets, and institutional users can redeem and mint VUSD at market prices. VUSD is working with the Onyx DAO and relevant authorities to identify the attackers, and plans to explore the licenses required for retail redemptions in the future.

According to previous news, affected by the theft of Onyx, VUSD once fell off its anchor and fell to $0.6599.

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