ME News reports that on April 19 (UTC+8), Sky (formerly MakerDAO) recently announced on X that the cross-chain bridge functionality for the fully on-chain fungible token USDS has been temporarily suspended. This action aims to assess the potential impact of a recent security incident involving rsETH on the system. Sky emphasized that its protocol and the USDS contract remain unaffected. As designed by the protocol, USDS remains fully collateralized and can be verified at any time via the blockchain. (Source: MLion)
Sky Pauses USDS OFT Cross-Chain Bridge Amid rsETH Security Incident
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Summary
On-chain news broke on April 19 (UTC+8) as Sky, formerly MakerDAO, paused the USDS OFT cross-chain bridge function. The pause follows a security incident involving rsETH. Sky stated that the action provides time to assess potential risks. The protocol and USDS contracts remain secure, and USDS remains fully collateralized and verifiable on-chain at all times.
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