Resolv USR, a stablecoin linked to Resolv Labs, lost its peg to the US dollar after an attacker minted millions of unbacked tokens. The attacker quickly converted the tokens into stablecoins and Ether. Resolv Labs has paused operations, investigating the exploit, and working on a recovery plan. The attacker exploited a vulnerability in the token’s contract, causing the token’s value to sharply devalue. The exploit underscores ongoing risks and vulnerabilities in decentralized finance protocols.

Leave a Reply