KuCoin, a prominent cryptocurrency exchange, has announced the delisting of Acala Network's token, aUSD, citing a misconfiguration that led to error minting in 2022. To address the losses incurred by token holders, KuCoin has launched an acquirement plan aimed at compensating affected users.

The Acala incident, which occurred in August 2022, involved the erroneous minting of 3 billion aUSD tokens in its liquidity pool. Following this incident, KuCoin suspended deposits and withdrawals of aUSD and initiated an investigation into the error mints. A full trace report was published by the Acala Project in September 2022, but a solution seemed unlikely due to a lack of cooperation from the Project Team. As a result, KuCoin has taken the initiative to launch the acquirement plan for users holding aUSD.

The acquirement plan, which will be open for applications until June 23, aims to convert eligible aUSD holders' tokens to USDT. The converted USDT will be deposited in users' accounts within 15 working days. The price for acquirement will be based on the average price 30 days before the closure of the trading pair aUSD/USDT.

Acala Network, a Polkadot-native DeFi protocol, has not yet commented on the launch of KuCoin's acquirement plan. However, its native token, ACA, has dropped by 1.91% to trade at $0.1021, according to CoinMarketCap data.

KuCoin's decision to delist aUSD and launch the acquirement plan is a significant development in the cryptocurrency space. The move is likely to impact the Acala Network and its users, as well as the broader cryptocurrency market. As the situation evolves, it remains to be seen how Acala Network will respond to KuCoin's acquirement plan and how it will affect the cryptocurrency landscape.

In the meantime, users holding aUSD are advised to take necessary steps to apply for the acquirement plan and convert their tokens to USDT. The acquirement plan is a welcome move by KuCoin to compensate users for their losses, and it is hoped that it will bring some relief to those affected by the Acala incident.

The Acala incident highlights the risks associated with cryptocurrency investments and the importance of due diligence and research before investing in any cryptocurrency. It also underscores the need for cryptocurrency exchanges to have robust measures in place to prevent such incidents from occurring in the future.

In conclusion, KuCoin's delisting of aUSD and the launch of the acquirement plan is a significant development in the cryptocurrency space. The move is likely to have far-reaching implications for the Acala Network, its users, and the broader cryptocurrency market. As the situation evolves, it is essential to stay informed and up-to-date on the latest developments.