StablR suspended USDR and EURR operations after an attack that allowed minting approximately $13.5 million in tokens without the required backing. A flaw in the 1-of-3 multisig wallet configuration allowed attackers to compromise one key and remove the legitimate signers. The tokens lost up to 50% of their peg; USDR trades at $0.
Security teams freeze part of the stolen funds as EURR and USDR face market pressure
StablR got hit hard. An attacker exploited a compromised private key, minted tokens out of thin air, and walked away with 1,115 ETH — roughly $2.8 million — funneled through decentralized exchanges.
StablR USDR and EURR depeg after a suspected key compromise lets an attacker mint tokens and extract 1,115 ETH worth $2.8M in DEX swaps now.
EURR, a euro-denominated stablecoin issued by StablR, fell 20% in a sharp move that saw USDR decouple from EURR, breaking the expected pricing relationship between the two stablecoins from the same issuer.
On-chain sleuth ZachXBT said two contracts tied to European stablecoin issuer StablR may have been drained in a live exploit worth about $10 million, with EURR and USDR both falling more than 20% below peg.