USD1 stablecoin briefly slipped to $0.994 due to a coordinated attack involving hacked accounts, influencer fear spreading, and large short positions but quickly recovered within minutes. Binance controls 93% of USD1's circulating supply, creating significant exchange concentration risk that could amplify future peg instability. While USD1’s reserves remain sound and primary market redemption intact, redemption friction and liquidity imbalances expose stablecoins to price deviations during stress events.