StablR’s EURR and USDR depeg after attacker mints $13.5 million in unbacked tokens through multisig exploit
EURR fell to $0.85 and USDR fell as low as $0.40 after an attacker dumped roughly $10.4 million in face value on decentralized exchanges....
Key takeaways
- 1StablR's EURR stablecoin fell to $0.85 and USDR crashed to $0.40 after a multisig exploit.
- 2Attacker minted $13.5 million in unbacked tokens and dumped $10.4 million on decentralized exchanges.
- 3Both stablecoins suffered significant depegging due to the security breach in the protocol's multisig system.
Why it matters
This exploit highlights critical risks in stablecoin infrastructure and multisig security mechanisms that protect Indian retail investors' holdings. Such breaches erode trust in decentralized stablecoins and demonstrate the need for robust auditing before investing in smaller DeFi protocols.
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