Resolv Labs Stablecoin Depegs, Plunges 74% After $25M Exploit

In brief

• DeFi platform Resolv Labs’ USR stablecoin depegged and crashed more than 70% following an exploit Sunday.
• An attacker exploited the USR stablecoin contract using a compromised key, and minted 80 million tokens.
• The hacker cashed out some $25 million through various DeFi protocols.