Re7 Labs: Has engaged a law firm to investigate and pursue compensation regarding the xUSD de-pegging incident.
TL;DR
Re7 Labs has hired law firm Pillsbury to investigate the xUSD de-pegging incident and pursue legal action for compensation. They previously contacted Stream Finance and Stables Labs without success, and lawyers have sent legal notices. Morpho Worldchains' deUSD is restored, and vault risk is down over 50%.
Tags
PANews reported on November 21 that Re7 Labs released an update on the xUSD de-pegging incident, stating that it has hired the law firm Pillsbury Winthrop Shaw Pittman to investigate the situation and advise on formal legal options, including asset recovery. Previously, Re7 Labs had contacted Stream Finance and Stables Labs multiple times but received no satisfactory responses. The lawyers have served legal notices to the relevant parties, demanding repayment and preservation of evidence. Currently, Morpho Worldchains' deUSD position has been fully restored, and vault risk exposure has been reduced by more than 50%.