<span style="font-weight: 400">Matthew Liu, the co-founder of Origin Protocol, has <a href="https://medium.com/originprotocol/urgent-ousd-has-hacked-and-there-has-been-a-loss-of-funds-7b8c4a7d534c" target="_blank" rel="nofollow noopener">confirmed </a>that the Origin Dollar (OUSD) vault was <a href="https://www.cryptoknowmics.com/news/defi-protocol-akropolis-hacked-for-2-million-in-dai-stablecoins/">attacked</a> by the hackers. He confirmed on Monday, November 16, 2020, that the team is looking for the damage done and how the hackers were able to gain access to it. </span>

<span style="font-weight: 400">The investigation is still in progress, however, it is not yet clear what kind of attack this was. According to the Origin team, the attack has caused damages of around $7 million. Although, the attackers took away much worth of stablecoins that includes ETH and DAI.</span>
<h2><b>Origin Team Not Sure Whether Funds Could be Recovered </b></h2>
<span style="font-weight: 400">Matthew Liu had mentioned the estimated loss that the protocol had faced in this attack. He also mentioned that Origin had received around $1 million of funds from its employees and founder. It is still not sure whether they will be able to get those funds recovered or not.</span>

<span style="font-weight: 400">According to him, the firm is working to platform safe and secure as he said:</span>

<em><span style="font-weight: 400">“Despite this setback, it is very much in our intention to make OUSD a safe, secure, and successful product that builds on the broader Origin mission of peer-to-peer commerce.”</span></em>
<h2><b>OUSD Price Dropped to $0.54</b></h2>
<span style="font-weight: 400">The attack on Origin Protocol has left its major impact on the OUSD stablecoin as its price has now dropped to $0.54, which was very close to $1 before this attack. It is also believed that due to this attack, people might start losing their faith and confidence in the security of decentralized finance protocols. Back in October 2020, it has been seen that many of these protocols have become victims of this kind of attack. It has caused losses of around $40 million to the investors who invested in platforms like Harvest Finance, Value DeFi, and others. Most of these protocols are built on the Ethereum platform. </span>

Origin Protocol Confirms $7M Attack on OUSD Vault

Matthew Liu, co-founder of Origin Protocol has confirmed that Origin Dollar (OUSD) vault has been attacked by the hackers.

Vandana has received Master of Arts degree in English from GEU Dehradun. She is currently working as a content writer with Agio Support Solutions and earlier worked as a sub-news editor at Business News and Information Services Private Limited. She is an enthusiastic content writer and aims to bring a compelling yet informative content to the audience. Meanwhile, enhancing her own knowledge in the cryptocurrency and blockchain industry.

Origin Protocol Confirms $7M Attack on OUSD Vault

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