Yield Protocol Stablegains Invests Client Assets in Anchor Without Disclosure, Resulting in $42 Million in Lost Funds for 4,878 Users

FatMan from the Terra Research Forum tweeted that the yield protocol Stablegains invested $USDC and $USD of users' assets in Anchor without prior disclosure, resulting in a total of about $42 million in lost funds for 4,878 users that may not be repaid. Stablegains has changed the denomination in its app from $USD to $UST and has also changed its terms and conditions. According to the screenshot, law firm Erickson Kramer Osborne has sent a letter of counsel to Stablegains on behalf of its users. The Stablegains website is currently closed to new users.