The Angle Protocol did effectively mint agEUR in the Midas Protocol.
I’d like to correct the numbers though, the protocol did lose a bit less than 35k agEUR out of this hack.
Governance was able to save yesterday 15k in this transaction. And it had minted 50k originally in this transaction.
The agEUR total supply is 30M€, so the loss is 0.1% of the total agEUR supply. And the protocol remains over-collateralized. Angle has accumulated a surplus to cover for this kind of situations of >$7.5m (see Analytics), and so the loss of 35k€ can easily be absorbed using the protocol proceeds.
35k is the revenue the protocol is currently making in two weeks, so even without this safety mattress, the loss could still be absorbed.
More generally, about direct deposit modules, Angle direct deposit modules are built to make sure that exposure to a single protocol is not too big with respect to the TVL of Angle and more precisely with respect to the losses that could be absorbed with the protocol equity.
Happy to answer any other questions on Angle but I feel that freezing agEUR at this point would be a bit extreme (cf @MarcZeller comment above).
Please also find here the Angle Labs comment on the hack.