StablR

StablR froze its stablecoins USDR and EURR after an attacker exploited a vulnerability to mint $13.5 million in unbacked tokens, leading to significant financial losses and operational disruptions.

StablR’s EURR and USDR stablecoins depegged after an attacker exploited a multisig vulnerability to mint $13.5 million in unbacked tokens, leading to massive sell-offs on decentralized exchanges. EURR dropped to $0.85 and USDR fell as low as $0.40 as the attacker dumped $10.4 million in face value.

Euro and USD stablecoins have depegged amid a $2.8 million exploit of the StablR protocol. Blockaid suspects the breach originated from a private key compromise in a minting multisig account.