Resolv Labs USR Stablecoin Collapses 74% Following Revised $25 Million Exploit

Key Facts

1An attacker minted $80 million worth of USR tokens using only $200,000.

2The USR stablecoin depegged by 74% following the exploit.

3The exploit targeted the minting contract of the Resolv Labs protocol.

Resolv Labs has paused its DeFi protocol following a catastrophic collapse of its USR stablecoin, which lost 74% of its value. Updated reports have revised the total financial impact to approximately $25 million after the attacker minted 80 million unbacked USR tokens. The security breach was traced to a privileged minting role controlled by a single externally owned account (EOA) that lacked mint limits or oracle checks. This vulnerability allowed the attacker to generate a disproportionate amount of USR tokens with minimal collateral, leading to an immediate depegging from the dollar. The incident has resulted in significant losses for liquidity providers and renewed concerns over security standards within the DeFi ecosystem. The protocol remains halted as the team works to contain the breach and investigate the full extent of the damage.

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Version History

19 additional sources confirmed this story

Version 31 day ago

What changed: Updated the total extracted funds to $25 million and added technical details regarding the EOA vulnerability and the minting of 80 million tokens.

Version 21 day ago

Version 12 days ago

What changed: The protocol has been officially halted to contain the breach, and the estimated financial impact has been revised from $80 million to $23 million based on new reports.

Resolv Labs USR Stablecoin Collapses 74% Following Revised $25 Million Exploit

Key Facts

Version History

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