USDC is the safest, after all, the finances are completely transparent and it is listed in the United States.

Early this morning, the crypto world was shaken again. The Yala protocol backed by Polychain was hacked thoroughly, with an estimated loss of 30 million dollars. The hacker's method was actually quite simple and brute-force, directly bypassing the protocol restrictions and conjuring up 10 million YU stablecoins out of thin air.

After obtaining the coins, I immediately exchanged them on-chain for 5.21 million USDC, and then quickly swapped them for ETH, spreading it across dozens of wallets. This series of operations caused the price of YU to collapse, dropping to a low of 0.2 dollars, decoupling by 80%. Now only 1450 dollars remain in Uniswap's liquidity pool, basically rendering it useless. Slow Fog has already intervened in the investigation, but whether the money can be recovered is hard to say. This incident once again proves a point: DeFi project smart contracts are like ticking time bombs; even with backing from large institutions, they are not safe.