StablR Euro and US dollar stablecoins depeg after $2.8M exploit

AI Impact AnalysisGrok analyzing...

📄Full Article· Automatically extracted by trafilatura1708 words

Source: StablR The attacker added themselves, replaced the other owners, and minted 8.35 million USDR and 4.5 million EURR, causing the stablecoins to depeg, Blockaid said. The attacker then swapped the minted tokens worth around $10.4 million on decentralized exchanges for just 1,115 ETH or around $2.8 million due to thin liquidity. The exploit adds to the over a dozen major crypto attacks that have happened so far this month, according to DeFiLlama, with significant exploits targeting THORChain, Verus Bridge, Echo Protocol and Polymarket. StablR’s euro stablecoin, EURR, which has a $14 million market capitalization, lost 23% of its value, which depegged the asset from its $1.15 peg to 88 cents, according to CoinGecko. Meanwhile, StablR’s US dollar stablecoin, USDR, with an $11 million market capitalization, dropped to 70 cents on Sunday morning. Related: Map Protocol token plummets 96% after a quadrillion token mint exploit StablR issues regulated collateralized stablecoins pegged to the euro and USD, with reserves held in segregated accounts. The world’s largest stablecoin issuer, Tether, invested in StablR in December 2024. EURR depegs 23%. Source: Peckshield Compromised private keys are becoming a common attack vector, with several DeFi protocols suffering exploits recently as a result of poor management. Volo Vault, Wasabi Perps, Echo Bridge and Polymarket were all hit with private or admin key exploits over the past two months. Meanwhile, the Bitcoin cross-chain bridge Map Protocol was exploited by a smart contract bug on May 21, when an attacker minted a quadrillion MAPO tokens. Magazine: DeFi’s billion-dollar secret: The insiders responsible for hacks More on the subject

Data Status✓ Full text extractedRead Original (CoinTelegraph)

🔍Historical Similar Events· Keyword + Asset Matching6 items

2026-05-24

StablR Stablecoins Depeg After $2.8 Million Exploit

Similarity 280%關鍵字 stablr/after/depeg

2026-05-24

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

Similarity 280%關鍵字 euro/stablr/depeg

2026-05-24

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

Similarity 280%關鍵字 euro/stablr/depeg

2026-05-24