Yala announces recovery plan: Illegally minted YU tokens will be destroyed on September 23

Yala has released a post-mortem analysis of the September 14th attack, detailing the timeline of the incident, analysis results, and its recovery plan. According to the report, a hacker abused a temporary deployment key during authorized bridge deployment to set up an unauthorized cross-chain bridge and withdraw 7.64 million USDC (approximately 1,636 ETH). The YU decoupled from the USDC to $0.20 before stabilizing at $0.94. No protocol vulnerabilities were exploited, and no Bitcoin reserves were compromised.