StablR-Linked EURR and USDR Contracts Suspected in Exploit Exceeding $3 Million
StablR said a security vulnerability affected its EURR and USDR stablecoins and that an attacker profited about $2.8 million, while the company stated on X that it is containing the issue and will provide verified follow-up details.
StablR said a security vulnerability affected its EURR and USDR stablecoins and confirmed that an attacker profited about $2.8 million. The company stated on X that it is containing the issue and will disclose further details and follow-up measures after verification. This adds an official response to earlier reporting that linked the incident to weak Ethereum multisig protections, a reported private key compromise, depegging of roughly 20% or more, and conflicting estimates ranging from about $2.8 million in attacker profit to roughly $10.4 million swapped into 1,115 ETH after unauthorized minting of 8.35 million USDR and 4.5 million EURR.
- Stablecoin: A cryptocurrency designed to maintain a fixed value relative to a reference asset, such as the U.S. dollar or euro.
- multisig: A wallet or contract control scheme that requires approvals from multiple signers before a transaction can be executed.
- ETH: The native cryptocurrency of Ethereum, used to pay network fees and as a traded digital asset.