An attacker has successfully exploited the Resolv USR stablecoin protocol, minting 80 million tokens and withdrawing at least $25 million before the depeg.
An attacker has exploited Resolv Labs’ USR stablecoin to mint 80 million tokens, causing the stablecoin to depeg from its $1 peg. The attacker has reportedly cashed out at least $25 million from the exploit, marking a significant security breach for the protocol.
The incident represents a critical failure in Resolv Labs’ token minting controls and represents a major loss for USR holders and the protocol. Stablecoin exploits of this magnitude underscore ongoing risks in DeFi protocols, particularly around access controls and minting mechanisms.
Sources: ResolvLabs on X, PeckShieldAlert on X
This article was generated automatically by The Defiant’s AI news system from publicly available sources.
Source: https://thedefiant.io/news/hacks/resolv-usr-stablecoin-exploit-80-million-minted-vholbs