.@Neutrl's negative publicity has been brewing for over a dozen hours now, yet its stablecoin NUSD shows no signs of depegging. What’s really going on here? The only liquidity pool for NUSD is deployed on Curve. After an emergency withdrawal of $35M in liquidity last night, there’s now only $3.5M left in the NUSD-USDC LP pool. But the shady devs left a backdoor in this pool. After pulling out a large amount of liquidity, they added the LP pool’s address to a blacklist (denylist), which directly disabled all deposit, withdrawal, and swap functions. If no one can buy or sell, of course it won’t depeg. These scumbag project devs are truly the worst.