Resolv Labs Pauses Protocol After $23 Million Exploit Hits USR Stablecoin
The incident triggered a depeg in USR stablecoin (crypto token designed to hold a fixed value), prompting the protocol to halt operations according to the source text.
Summary
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Terms & Concepts
Stablecoin: A cryptocurrency designed to maintain a relatively stable value, often by linking its price to another asset such as the U.S. dollar.
Depeg: A loss of the intended fixed price relationship between a stablecoin and its reference asset.
Exploit: An attack that uses a vulnerability in code or protocol design to extract funds or disrupt normal operations.