Yala stablecoin YU has encountered suspicious circumstances similar to USDX

The DeFi community YAM posted on X, stating that dangerous signals have been observed regarding the Yala stablecoin YU. An address closely related to Yala is fully borrowing USDC and most of the YU funds from the Yala Frontier market on Eulur, despite interest rates remaining high, with no repayment actions taken.

Currently, the market's capital utilization rate has reached 100%, meaning lenders cannot withdraw any liquidity. The Euler team has also set the borrowing limit for the Yala market on Frontier to zero. It is reported that the Yala team has not responded to either the Euler team or Discord community users. YAM added that YU is still maintaining its peg on Solana, with nearly one million USDC available in its liquidity pool for price anchoring exits. This article serves more as a risk warning, and it is still uncertain whether Yala is truly in trouble.