Origin Protocol Hacked for $7 Million in OUSD Stablecoin Exploit
- —OUSD lost about $7 million in Ethereum and DAI
- —The attack used a flash loan and re-entrancy exploit
- —Over $1 million of the stolen funds belonged to founders and employees
- —OUSD price fell more than 83%, deposits suspended
Why it matters: The exploit exposed how rebase mechanics in algorithmic stablecoins can be manipulated, raising DeFi security concerns.
Source: CryptoTicker