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Agora Says Initia Exploit Hit Product Built on Its AUSD Token
Agora says an exploit connected to Initia reached a third-party product that uses its AUSD token, not a system the company runs itself. Ethereum records show 1.4 million AUSD left a bridge adapter, according to The Defiant.
What the on-chain records show
Ethereum records show that 1.4 million AUSD left a bridge adapter, the component that moves tokens between blockchains. The figure is drawn from on-chain data as The Defiant reported it.
Agora's account of its own contracts
Agora states that it has no smart contracts deployed on Initia. A smart contract is a program that runs on a blockchain and moves funds according to fixed rules. On the company's account, the affected product was built by an outside party and uses AUSD, rather than being a contract Agora operates.
Open questions
- Which third-party product was affected by the exploit?
- How did the 1.4 million AUSD leave the bridge adapter?