StablR halts USDR and EURR operations after $13.5 million minting exploit via multisig wallet weakness
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Summary
European stablecoin issuer StablR has suspended minting and redemption for its USDR and EURR tokens after a cyberattack exploited a 1-of-3 multisig wallet weakness, allowing attackers to mint $13.5 million in unbacked tokens and net $2.8 million. Onchain investigator ZachXBT flagged the exploit publicly. The Malta-based firm detected irregularities via internal alerts, froze operations, and asked exchanges to halt trading, deposits, and withdrawals for both stablecoins.
Key quotes
· 3 pulledOnchain investigator ZachXBT publicly flagged the exploit over the weekend, posting that two contracts tied to StablR's USDR and EURR stablecoins appeared compromised.
The Malta-based firm said it detected 'irregularities' in its systems after internal alerts triggered an investigation.
StablR froze token operations and asked exchanges to halt trading, deposits and withdrawals for both stablecoins.
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