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

Stablecoin issuer StablR says it has been compromised, with Blockaid suspecting the cause is a private key compromise of an owner of a multisig wallet used for minting tokens.

Stablecoin issuer StablR has said it has suffered an exploit, resulting in its euro and US dollar stablecoins depegging.

Blockchain security firm Blockaid said on Sunday that the exploit had extracted $2.8 million so far. StablR said in a X post that it had identified an exploit and was “working to contain it and minimize impact.”

Blockaid said it suspected the cause of the exploit is a private key compromise of one owner on a multisignature wallet used for minting stablecoin, which allowed one of the three participants to sign a transaction.

Read more