LUSD Plummets 100% as XRP-Supporting Linear Finance Suffers Major Attack

In response, the Linear team has enacted a series of protective measures, pausing all protocol contracts that allow token minting, burning, or exchanging and disabling the Linear bridge contract for LUSD. To address the situation, they've enlisted a leading industry team to track the attackers and restore the protocol, while expressing sincere apologies to their users and requesting their patience and support.

Prior to the attack, Linear Finance had showcased significant growth, particularly with its listing ofThis addition marked a key development for both entities, as XRP had been relisted on major exchanges like Coindesk, Kraken, and Bitstamp following a favorable court ruling in theLaunched in January 2021, Linear Exchange is a recent entry into the crypto ecosystem but has quickly positioned itself as a prominent contender in the DeFi space, fueled by a $1.

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DeFi protocol Linear Finance reports attack that drained ℓUSD liquidityHong Kong-based DeFi protocol Linear Finance reported an attack on Thursday that drained liquidity of its Linear USD token.
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