The Resolv platform suffered a serious attack, with its issued stablecoin USR experiencing a 69.1% decline to 0.29 USD after the attack, causing severe depegging. The attacker exploited protocol vulnerabilities, spending only 200,000 USDC to mint 80 million USR, then converted through wstUSR to cash out by purchasing approximately 9,111 ETH. The team has urgently suspended protocol functions.

This incident once again exposes crypto risks: the "stability" of stablecoins is built on the rigor of mechanism design, and once vulnerabilities exist, the peg collapses instantly. The key to this attack lies in the defects of the "deposit collateral" mechanism — the attacker exploited the protocol's logic allowing users to deposit collateral assets and mint USR, using a certain method to amplify small collateral several fold to mint stablecoins far exceeding their value.

What's worth noting is that Resolv is not an isolated case. From Terra's UST collapse to Curve's Vyper vulnerability, the stablecoin track has repeatedly paid heavy prices due to mechanism design flaws or code vulnerabilities. USR's depegging to 0.29 USD this time means the market's confidence in it has been severely shaken; even if the team restores the protocol, rebuilding trust will require a long period. $RESOLV