Resolv Labs Pauses Protocol After $23M Exploit Triggers USR Stablecoin Depeg

According to onchain data and project disclosures, the attacker deposited roughly $100,000 to $200,000 in USDC into a contract tied to USR issuance before exploiting a two-step minting process. By manipulating parameters within the request and completion flow, the attacker minted about 80 million USR—far exceeding the initial deposit and creating a large pool of unbacked tokens.