Resolv’s USR Stablecoin Crashes to $0.257 After Exploit – Attacker Mints $50M Using Only $100K USDC

 Resolv protocol’s stablecoin USR suffered a severe depeg following a major exploit, triggering a chain reaction across several DeFi platforms.

Key Highlights

- USR stablecoin was exploited and plunged to as low as $0.257.

- The attacker used only $100,000 USDC to mint approximately 50 million USR.

- The attacker then swapped the minted USR into wstUSR, USDC, USDT, and purchased 11,422 ETH (worth roughly $23.66 million at the time).

- Venus protocol faces potential bad debt risk exceeding $30 million due to the incident.

- Fluid protocol has publicly committed to full compensation for all user losses.

The exploit has created widespread concern about cascading risks in interconnected DeFi protocols, with multiple projects now investigating their exposure and announcing compensation plans.

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Important Disclaimer:  

All information in this article is for news and educational purposes only and does not constitute financial advice or investment recommendation of any kind. The cryptocurrency market carries very high risk and may result in total loss of capital. Please always conduct your own research (DYOR) and consult a licensed financial advisor before making any decisions.