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The Wire
Watch· RWA

Ondo USDY reserve attestation delayed; auditor cites reconciliation backlog

Ondo's monthly USDY reserve attestation slipped past its usual cadence. No breach — a transparency watch was raised on the one vault holding USDY as collateral.

USDYUSDYassetOndoOndoissuer
1Affected vaults
$8.60MTotal exposed
4.8/10Significance
01

Affected positions

Direct(1)

Vaults holding the affected asset directly.

nestUSDY
Nest USDY Credit
nestEthereum
$8.60M
Nest USDY CreditnestnestUSDYUSDY
02

Exposure path

Each affected position shows its full route above — direct holdings resolve in one hop; wrapper exposure is expanded to the underlying (e.g. sUSDe → USDe).

03

Severity & reason

Watchsignificance 4.8/10

Watch heuristic: reserve attestation overdue > 5d for an RWA backing asset (rule: rwa-attestation-watch).

04

Suggested action

Monitor.

05

Evidence

SourceView article
Graph snapshotgsnap_a210…7c3301
Methodologyv3.2.1
PublishedJun 23, 2026, 07:51 AM UTC