StablR Exploit Drains $2.8M as Euro Stablecoin Depegs

USD Stablecoin USDR Extends De-Peg to 37% Following $10 Million Governance Exploit

StablR breaks a two-month silence to confirm a $10 million exploit of its USD and EUR stablecoins.

StablR Stablecoins Exploited, EURR and USDR Depeg After Minting Key Compromise

StablR, a European stablecoin issuer backed by Tether, suffered an exploit on Saturday that drained funds from its minting contract and sent both its euro and dollar-pegged tokens sharply below their pegs. Security firm Blockaid, which first flagged the attack on-chain, said roughly $2.8 million... Read the full story at The Defiant

How the StablR exploit drained $10.4M via unbacked stablecoin issuance

Stablecoin confidence weakened after unauthorized minting exposed deeper governance and operational risks across issuance infrastructure.

StablR Had a MiCA License and Tether Backing: One Compromised Key Took It Down

Key Takeaways StablR’s EURR and USDR stablecoins depegged after a $2.8 million exploit on May 24 A compromised multisig key let the attacker mint over $10.4 million in new tokens StablR holds a MiCA license and an EMI license from Malta, regulation did not prevent the exploit StablR is not a DeFi wild west project. It holds an Electronic Money Institution license from Malta’s financial regulator. It operates under the EU’s Markets in Crypto-Ass…

Euro and USD stablecoins depeg amid ongoing $2.8M StablR exploit

The suspected cause is a private key compromise of one owner in the minting multisig account, said Blockaid.