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Resolv Attacker Spends 200,000 USDC to Mint 80 Million USR

4 hours ago

**March 22nd** Onchain Lens monitoring reveals a Resolv attacker spent 200,000 USDC to mint 80 million USR. The attacker then converted USR to wstUSR before swapping back to USDC and USDT. To date, $17.24 million in USDC and USDT has been used to purchase 9,111 ETH. The attacker remains in the process of converting USR to USDC/USDT and may acquire additional ETH.
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Affected by Resolv exploit, USR plunges significantly to $0.29, RESOLV down over 10% in 24 hours

**March 22nd** — Stablecoin USR, issued by Resolv, plummeted 69.1% in the past 24 hours following an attack, trading at $0.29 as of press time, per HTX market data. Resolv’s native token RESOLV also dropped over 10% in the same period, currently priced at $0.0549. Earlier reports detail the exploit: The hacker spent 200,000 USDC to mint 80 million USR, then converted USR to wstUSR before swapping it for USDC and USDT. To date, $17.24 million in USDC and USDT has been used to purchase 9,111 ETH.

35 minutes ago

Resolv: No loss to underlying assets, issue is limited to USR issuance mechanism

March 22: Resolv said it is investigating an incident involving unauthorized minting of USR. Here’s the current status: - The collateral asset pool remains intact—no underlying assets have been lost. - The issue appears isolated to the USR minting mechanism. Our top priorities are controlling the situation, assessing the impact, and ensuring legitimate users remain unaffected. We’re actively investigating and will provide further updates shortly.

35 minutes ago

Iran says it will allow non-hostile vessels to pass through the Strait of Hormuz

March 22nd — An Iranian representative to the International Maritime Organization (IMO) told Mehr News Agency that Iran is ready to collaborate with the IMO and other countries to boost maritime safety and protect seafarers. Vessels from all nations, except those deemed hostile, may transit the Strait of Hormuz after coordinating on safety and security arrangements, the representative stated. The representative also identified U.S. and Israeli attacks as the root cause of the current situation in the Strait of Hormuz. (FXStreet)

35 minutes ago

Vitalik Praises Qwen: Willans Formula Deciphered in Under 3 Minutes

On March 22, Vitalik posted: “I’m surprised Qwen 35B actually solved the Willans equation. (It used 15,000 tokens and took less than 3 minutes to run on my laptop.) Either way, hiding modulo arithmetic within a seemingly smooth, simple elementary function using trigonometric functions is really cool.”

35 minutes ago

Gauntlet: The majority of treasuries were unaffected by the USR exploit event, with a few high-yield treasuries having limited risk.

**March 22 Update** DeFi research and risk management firm Gauntlet issued a statement on March 22 noting: "Resolv’s USR contract was exploited at 10:21 AM Beijing time today. The attacker minted 50 million Resolv USD (USR) using approximately 100,000 USDC." The Resolv team is actively responding to the incident and managing liquidity, with ongoing updates to be provided as the situation evolves. Per Gauntlet: Most of its treasury remains unaffected, with limited risk in a small number of high-yield treasuries. The firm is monitoring liquidity and will share continuous progress updates.

35 minutes ago

Resolv Trust Platform Confirms Attack, Suspends All Protocol Functionality

March 22 — Resolv announced in a post Thursday that its platform was attacked, with an attacker minting 50 million unbacked USR tokens. The team has paused all protocol functions to stop additional malicious activity and is actively working on recovery efforts.

35 minutes ago

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