Altura shuts down USDT vault after $8.5M withdrawals

A decentralized finance protocol has initiated the orderly shutdown of its primary stablecoin vault after a sudden wave of withdrawals, triggered by market panic stemming from an unrelated stablecoin collapse. Altura began winding down its USDT vault on June 21, 2026, following more than $8.5 million in redemptions within a 24-hour period.

The withdrawal surge came in the wake of a separate crisis involving Main Street’s msUSD stablecoin, which lost more than 70% of its peg to the U.S. dollar. That collapse occurred after Accountable, a third-party proof-of-solvency provider, terminated its service agreement with Main Street, citing the project's failure to meet verification standards. The loss of this verification layer eroded investor confidence across platforms that utilized Accountable’s services.

Altura was among those platforms, having contracted with Accountable for solvency attestation. However, the protocol maintained it had zero direct financial exposure to msUSD or any of Main Street’s investment strategies. Despite issuing public clarifications to that effect, depositors rushed to withdraw funds, pulling out roughly 22% of the vault’s total value, which had...