PANews reported on February 5 that Arbitrum Ecosystem Stablecoin Protocol SperaxUSD tweeted that yesterday an attacker increased the token balance of his address to 9.7 billion without providing corresponding collateral, and liquidated about $300,000 before the Sperax team and Arbitrum ecosystem partners jointly blocked it. The Sperax team said it has identified the attacker's account on CEX and is contacting the attacker to discuss a solution. SperaxUSD's governance token $SPA was not affected. The exchange rate of the stablecoin USDs fluctuated slightly more than usual, but remained between $0.97 and $1.02. At present, all stablecoin transactions and smart contracts have been suspended, and the problem will be resolved by upgrading the smart contract next week. Before restarting the protocol, the Sperax team will recapitalize the liquidated amount next week. In addition, a detailed investigation report will be released on Monday.
