Decentralized Finance (DeFi) protocol Linear Finance issued a warning to users that it had suffered a significant exploit on Thursday. 

The attack led to a catastrophic loss of liquidity for the LUSD token on Ascendex and PancakeSwap. 

Linear Finance Suffers Exploit 

Linear Finance, a DeFi protocol, issued an urgent update on X (formerly Twitter), warning users that its native stablecoin, LUSD, could be under an exploit attack. The announcement resulted in significant concerns in the larger crypto ecosystem and prompted the Linear Finance team to take immediate and decisive action. 

“Urgent Update Re $LUSD The Linear stable coin $LUSD appears to be under an exploit attack. While the team investigates, DO NOT BUY LUSD, DO NOT TRADE $LUSD Liquidations are paused, …