Wu said that, according to DEX Screener, the Yala stablecoin YU, invested by Polychain, has decoupled since 5:14 UTC+8 today, having dropped as low as $0.2074, and is now rebounding to $0.923. In addition, the current liquidity of USDC in the YU/USDC LP on Uniswap on Ethereum is only $1,450. On-chain data shows that a suspicious address: 0x29…74F5 minted 10 million YU from a Null address between 4:10-4:13 UTC+8 today, and redeemed 5.213 million YU for 5.213 million USDC through Yala PSM; subsequently, that address bought ETH with 5.213 million USDC and distributed it to dozens of addresses at 10.1 ETH each.
