As famous by on-chain analysts Ai Yi (@ai_9684xtpa) and PeckShield, Resolv’s USR stablecoin was unpegged on Sunday after an obvious sensible contract abuse allowed an attacker to mint 80 million USR tokens and dump them on a decentralized alternate.
.@ResolvLabs There appears to be numerous a number of $USR It’s forged. Be alert!
$50 million: https://t.co/gDrTBJDkax
$30 million: https://t.co/jLyvQkMMSV pic.twitter.com/0F7JZrKR4V— PeckShield Alert (@PeckShieldAlert) March 22, 2026
In line with CoinGecko, the U.S. greenback rapidly grew to become risky, dropping to as little as $0.2 earlier than recovering to round $0.8.
Resolv Labs, the core developer of the Resolv protocol, mentioned in an announcement that it had briefly suspended operations following the exploit. The crew is investigating and taking steps to comprise the scenario.
Resolv skilled an exploit that allowed an attacker to mint 50 million USR with out backing.
The crew has at the moment suspended all protocol performance to forestall additional malicious exercise and is actively engaged on restoration.
— Resolv Labs (@ResolvLabs) March 22, 2026
USR is a 1:1 dollar-pegged stablecoin constructed by Resolv to function utterly on-chain. Slightly than holding fiat reserves, it makes use of overcollateralized crypto belongings akin to ETH, staked Ethereum, and Bitcoin to keep up its worth.
Following this information, RESOLV, the protocol’s native token used for governance and worth seize, fell 6% to $0.054.
