HYDT PROTOCOL

DESCRIPTION OF EVENTS

"Earn 30%+ APY on your stablecoin. HYDT Protocol offers high and attractive returns on your stablecoins. Anyone can earn 30%+ APY by purchasing HYDT stablecoin on pancakeswap or any other exchange and depositing it into the protocol, making it one of the most attractive APYs in the industry.

Flexible and Durable Soft Peg Mechanism. HYDT, the stablecoin of the HYDT protocol, has it's unique and flexible automated soft peg mechanism to keep HYDT close to 1USD while avoiding critical damage to the protocol even under the most extreme market conditions, which never stops working until HYDT regains its peg to the USD in case of a depeg.

Earning yield made easy. You just need to buy HYDT on the market and make a deposit to start earning yield on HYDT stablecoin, enjoy high returns without worrying about liquidation and complicated operations!"

"HYDT Protocol is audited by Cyberscope."

"A suspicious attack involving HYDT tokens has occurred on BSC, resulting in a loss of approximately $58,000."

"The attacker borrowed $12 million via a flash loan, buying 6,735 $BNB on our price source ($BNB-$USDT), creating significant price impact.

The attacker minted 60,961.92 $HYDT by sending 11 BNB to our Reserve Contract, then sold the tokens on the open market before returning the loan."

"We've discovered a critical issue with the $HYDT mint function that has been exploited, allowing a hacker to mint $HYDT at a low price.

This has led to a significant dump of $HYDT stablecoins at artificially deflated prices.

We advise against buying or selling $HYDT Stablecoin at this time.

Affected $HYDT staking users will receive full compensation.

Thank you for your understanding. We’ll keep you updated."

"We’re pleased to report that $HYDT has mostly regained its peg to the $USDT now

Users can now buy and sell $HYDT normally

The mint function is still being updated to prevent future flash loan attacks and remains unavailable for now.

Also, the $HYDT peg system will resume soon.

We are so sorry for the inconvenience this must have caused you

Thank you for your patience and support always."

HYDT Protocol offers a stablecoin capable of generating an apparent 30% APY. Despite an audit by Cyberscope, the protocol was able to launch with a price vulnerability which allowed for manipulation. The protocol was exploited on October 9th, which resulted in the price massively dropping and a $58k profit being generated to the exploiter. The exploit was fixed and the protocol relaunched, restoring close to the original peg. The protocol promised to reimburse all affected users.

HYDT (Nov 6)
HYDT Protocol Overview | HYDT Protocol Document (Nov 6)
Audit | HYDT Protocol Document (Nov 6)
BNB Smart Chain Transaction Hash (Txhash) Details | BscScan  (Nov 6)
https://www.coingecko.com/en/coins/hydt (Nov 6)
HYDT PROTOCOL Price Today - HYDT to US dollar Live - Crypto | Coinranking (Nov 6)
@HydtProtocol Twitter (Nov 6)
@HydtProtocol Twitter (Nov 6)
@HydtProtocol Twitter (Nov 6)
@HydtProtocol Twitter (Nov 6)
@HydtProtocol Twitter (Nov 6)
BlockThreat - Week 41, 2024 (Nov 6)

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