Resolv Stablecoin Crashes 70% as Attacker Extracts $25 Million in ETH

Resolv stablecoin crashes 70% as attacker extracts $25 million in ETH

The protocol holds $95 million in assets against $173 million in liabilities, leaving it functionally insolvent. USR is trading at $0.27, down 72% in a week.

Resolv Hacker Holds $25M in Stolen Funds as DeFi Protocols Assess Losses

A hacker behind the Resolv protocol exploit is sitting on $25 million in stolen funds while multiple DeFi protocols assess the extent of their losses from the attack.

Resolv Lab Suffers $25M DeFi Exploit as Attacker Turns $100K Into Millions

A major cryptocurrency exploit has struck Resolv Labs, raising fresh concerns about smart contract security.An attacker was able to manipulate the platform’s USR minting system and turn a deposit of $100,000 into millions of dollars in tokens. The incident was first flagged by Arkham Intelligence and later on by another on-chain analyst known as yieldsandmore.According to on-chain data, the attacker deposited 100,000 USDC into Resolv’s USR Count…

Resolv hacker sits on $25M loot as DeFi protocols assess losses

Resolv Labs, the protocol behind overcollateralized stablecoin USR, suffered an exploit in the early hours of Sunday, March 22. The attack, which specifically targeted USR, saw the attacker depositing about $200,000 in USDC and carting away 80 million freshly minted USR tokens. The incident caused USR, which is natively backed by Ether (ETH) and meant to maintain a dollar peg, to crash by over 88%.  By the time Resolv’s engineers were able to re…

Weekly Crypto Market Recap: Stablecoin Scare Shakes Confidence Amid Resolv Labs Exploit

Weekly Crypto Market Recap: Stablecoin Scare Shakes Confidence Amid Resolv Labs Exploit The past week in the crypto market was largely overshadowed by a single, yet profoundly impactful event: the depegging of the Resolv Labs stablecoin amidst a multi-million token exploit. This incident reverberated across the digital asset landscape, serving as a stark reminder of the inherent volatility and security challenges that continue to plague even the…