Stablecoin event
CASH peg collapses after exploit
Unlimited unbacked minting caused Cashio Dollar to collapse toward zero and destroyed the protocol's collateral model.
ImpactCritical
Detail kindDepeg
Sources1
Cashio Dollar
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Cashio
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| Date | 2022-03-23 |
|---|---|
| Event type | Depeg |
| Event detail kind | Depeg |
| Stablecoin subjects | Cashio Dollar |
| Organization subjects | Cashio |
| Impact | Critical |
| Effect on stablecoin status | Failed |
| Recovery / reversal | Collapsed |
| Recovery date | — |
| Cause or mechanism | Infinite minting of unbacked CASH destroyed the peg. |
| Record confidence | High |
| Depeg recovery status | Collapsed |
|---|---|
| Depeg recovery date | — |
| Depeg cause summary | Infinite minting of unbacked CASH destroyed the peg. |
| Source | Publisher | Type | Evidence scope |
|---|---|---|---|
| Stablecoin Cashio Suffers Infinite Glitch Exploit, TVL Drops by $28M | CoinDesk | News Article | Exploit Date, Infinite Mint, Peg Collapse, Security Incident |
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