Altura Halts Stablecoin Vault Following 8.5M USDT Redemptions Over Weekend

According to ChainCatcher, Altura CEO Ranveer Arora announced the DeFi protocol will orderly close its stablecoin yield vault following unprecedented redemption requests over the weekend. The platform processed over 8.5 million USDT in instant redemptions within 24 hours prior to the announcement.

The redemption wave was triggered by market panic stemming from the recent severe de-pegging of competing yield stablecoin Main Street (msUSD). Although Altura clarified it has no direct risk exposure to Main Street, both projects share the same reserve attestation provider, Accountable, fueling investor concerns. The vault previously reached a total value locked of 39 million dollars on HyperEVM.