Altura winds down stablecoin vault amid 'unprecedented' withdrawal requests

The vault, which previously reached a peak total value locked of $39 million on HyperEVM, employed strategies including funding-rate arbitrage, market making, and real-world asset (RWA) positions. Arora indicated that Altura has notified all counterparties and partners and has begun unwinding positions, though some may take longer to redeem fully.

Arora also expressed disappointment over misinformation and speculation within the industry, stating that "unfounded narratives contribute to market fear and withdrawal pressure." While not explicitly naming the incident, Altura's official account had previously addressed the depegging of Main Street's yield-bearing msUSD stablecoin. Main Street's stablecoin crashed over 70% on Saturday after its proof-of-solvency provider, Accountable, terminated its service agreement, citing failure to meet verification standards. Although Altura stated it had no direct exposure to Main Street or its strategies, the event apparently triggered contagion fears among similar protocols.