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Resolv Labs burns 36.7M hacked USR tokens after $34M DeFi exploit loss

Protocol Fundamentals
06 Apr 2026
Crypto news
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Bearish
pluang ai news

Resolv Labs used a contract upgrade to burn 36.73 million USR stablecoins stolen by an attacker who minted 80 million unbacked tokens with less than $200k collateral. The attacker dumped 34 million USR for about $24.5 million in ETH, causing an estimated $34 million loss to the protocol. Despite the collateral pool remaining intact, this incident highlights critical failures in DeFi key management and the risks of yield-bearing stablecoins. Resolv Labs is now focused on recovery and improving security to prevent similar exploits.

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