Fluid Reports $21 Million Bad Debt After Resolv Attackers Mint Unbacked USR

Fluid reported $21 million in bad debt after attackers targeting Resolv illegally minted about $80 million in unbacked USR. According to Fluid, its total exposure was about $100 million, and the protocol paused affected markets within hours of the incident. Fluid previously said that Resolv and Fluid repaid about $70 million of debt within two days. In its latest update, Fluid said the remaining $19.3 million will be covered by Resolv with $9.7 million, the Fluid governance treasury with $8.2 million, and the Fluid team with $1.5 million. Fluid also said it burned all remaining USR in the protocol and expects its Solana DEX to launch within six weeks.

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Fluid Reports $21 Million Bad Debt After Resolv Attackers Mint Unbacked USR - CoinPost Terminal