POPA ReconStablR Exploited for $13.5M, EURR and USDR Depeg
StablR Exploited for $13.5M, EURR and USDR Depeg StablR, a MiCA-compliant stablecoin issuer backed by Tether and Kraken, suffered a $13.5M exploit after an attacker gained control of its minting infrastructure and issued unbacked EURR and USDR tokens. The newly minted tokens were dumped on decentralized exchanges, pushing EURR as low as $0.85 and USDR to around $0.40 at the lows. In total, the attacker minted 4.5M EURR and 8.35M USDR before selling a significant portion of the supply. According to Blockaid, the incident stemmed from a key-management failure. The minting system reportedly…
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