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Yala Addresses YU Depeg Crisis, Cites ETH Decline Impact on Recovered Funds

Yala responded on Nov. 18 to the depegging of its stablecoin YU and liquidity crisis, according to an official X post. The protocol suffered a hack on Sept. 14, 2025, losing $7.64 million USDC (approximately 1,636 ETH at the time), though the core protocol remained secure and the team injected $5.5 million to maintain stability. Bangkok law enforcement arrested the hacker on Oct. 29, 2025, and most affected funds were recovered but remain under judicial review; however, the actual recovered value decreased due to ETH price decline after some funds were converted to ETH and attacker spending. Recent retail withdrawal from DeFi markets has intensified pressure on the already illiquid market, affecting Euler and limiting positions previously used to stabilize YU. Yala commits to announcing a clear plan by Dec. 15, 2025, including fund recovery pathways and operational measures.
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