Resolv Stablecoin Crashes After $25M Exploit Mints 80M Fake Tokens

• Attacker minted 80M unbacked USR using $100K-$200K, extracting $23M-$25M in ETH.
• Root cause was compromised private keys with no on-chain mint limits or oracle checks.
• USR lost its peg within minutes, crashing below $0.40 with lows near $0.02.

Resolv Labs confirmed that its USR stablecoin minting system was exploited on March 22, 2026. An attacker gained access to private keys and minted 80 million unbacked USR tokens.

The attacker used only $100,000-$200,000 in initial collateral. That input should have minted a small amount of USR, but the system allowed tens of millions to be created.

The attacker converted USR into its staked version (wstUSR), then swapped into other stablecoins, including Circle’s USDC, and finally into Ether. On-chain data shows total extraction of roughly $23 million to $25 million in ETH.

Root Cause: Private Key Compromise, Not Code…

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