Resolv's USR Stablecoin Just Lost 74% of Its Value. The Exploit Took Minutes.

An attacker minted 80 million unauthorized USR tokens and cashed out $25 million in ETH before anyone could react. The stablecoin that was supposed to hold $1.00 is now trading around $0.26.

Resolv says no user-deposited assets were lost — the exploit hit the protocol's own reserves, not individual wallets. Cold comfort if you were holding USR and watched three-quarters of your balance evaporate in real time.

The attack targeted the minting mechanism. Whoever did this created tokens without putting up collateral, then dumped them into liquidity pools before the price caught up with reality. Classic infinite-mint exploit. The kind of bug that audits are supposed to catch.

DeFi protocols that accepted USR as collateral are scrambling. Liquidation cascades already hit several lending markets. If you had USR in a vault somewhere, check it now.

This is the third major stablecoin depeg event this year. The pattern keeps repeating: new stablecoin launches, promises innovation, skips the part where the code actually works under stress.

Stick with battle-tested stablecoins. USDT and USDC exist for a reason.