Crazy, Altura vault token (ethereum:0x74db7a52773a52699dbc0c01b1254e5301e3e119) depegged from $1 to $0.12
And weirdly the @alturax team went radio silence (coincidence??)
> They ran a high yield vault with up to ~$39M in TVL
> But now, people can't withdraw their money
What happened?
In mid June, big withdrawals happened. The team decided to pause everything on their protocol, sold positions (RWA?) and moved funds into a bank account
So no yield anymore?
Early July, the team claimed funds were coming back and withdrawals would reopen soon
On July 28th, the team announced the bank had frozen their funds (~$22M) and we haven't gotten any info since then
Trust was lost and the AVLT token depegged
Btw, this was the token you needed to get to farm the yield vault.
So:
> Withdrawals are paused
> Token is down 88%
Glad I withdrew my funds from there 2 months ago, couldnt really get the transparency I wanted and there was a huge lack of info
Sorry for people who had money in this but the chances of getting it back are near 0
