Attacker exploits Resolv USR stablecoin to mint 80 million tokens, cashes out $25M: Resolv Labs

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.