StablR Stablecoin Exploit Sees $2.8M Loss and Peg Breach

A recent security exploit has compromised two stablecoins issued by StablR: EURR (Euro) and USDR (US Dollar). According to blockchain security firm Blockaid, an attacker took control of minting permissions for these tokens due to a suspected private key compromise linked to one owner of the minting multisig account.

The multisig setup used a 1-of-3 threshold, allowing a single compromised key to grant full control. The attacker added themselves as an owner and replaced the other two legitimate owners before minting 12.85 million tokens.

This resulted in both stablecoins deviating from their intended pegs. Market trackers showed EURR trading near $0.908 (down over 21% in 24 hours) while USDR traded below its $1 peg at around $0.7225 during the incident.