Overview
- PeckShield reported roughly 80 million USR were minted without backing, with part of the haul converted into about 9,100 ETH and other stablecoins.
- USR plunged to roughly $0.20–$0.26 before partially recovering to around $0.80–$0.87, remaining below its dollar peg.
- Resolv Labs paused all protocol functions and said it is investigating the incident and working on a recovery plan.
- The attacker offloaded the minted tokens across decentralized exchanges, including KyberSwap and Velora, with on-chain monitoring continuing.
- Analysts pointed to a possible flaw in the minting logic or compromised controls as the cause, and the hit was amplified by the protocol’s previously large TVL and exposure of related vaults.