Agora: Initia Exploit Hit Third-Party Product Using AUSD

The distinction Agora is drawing matters: the loss surfaced through a bridge adapter holding AUSD, yet the issuer says its own contracts were never deployed on Initia. That reframes the event as a question about how stablecoin liquidity sits in third-party integrations rather than a flaw in the token's core issuance. For holders and integrators, the real exposure is the bridge and adapter layer, where assets can leave even when the issuer's contracts are absent. Whether the 1.4 million AUSD is recovered or absorbed, and how Agora handles redemption and counterparty trust, is the open question.