The DeFi community YAM has issued a warning regarding potential risks associated with the Yala stablecoin $YU. In September, a vulnerability in the LayerZero OFT bridge configuration led to a loss of approximately $7.6 million, though the team claims most of it has been recovered. Recently, a closely linked address borrowed all available USDC and most YU from the Euler Frontier market without repayment, resulting in 100% utilization and preventing lenders from exiting. Euler has set the borrowing limit to zero, but the Yala team has not responded. Additionally, $YU has almost no effective liquidity on EVM, with the mainnet PSM holding only about $50,000 in USDC, complicating large-scale liquidations. On Solana, $YU remains near its peg with about $1 million in USDC liquidity. While a substantial crisis has not been confirmed, caution is advised.
YAM Warns of Potential Risks with Yala Stablecoin $YU
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