I’m sure everyone has heard about the Cashio crash by now. However for those who haven’t, Cashio is/was a stablecoin on Solana and a hacker found an infinite mint glitch, crashing the price.
Here is the price graph:
[Cashio’s 24hr Price Graph](https://preview.redd.it/q778mkcxz4p81.png?width=1224&format=png&auto=webp&s=d269f0f7d3e1c87e7d201d78a8f533dfd6a43e9c)
The lesson from this story is that stable coins are not 100% safe. Sure, the best stable coins such as UST are very secure, but there is always the slight risk that something goes wrong.
The reason I say this is because a lot of people espouse holding stable coins and staking them for their high APYs, with (some) people saying that it’s risk-free. **It’s low risk, but not risk-free.**