The USD stablecoin USDR lost 37% of its value following a $10 million governance exploit at its issuer, StablR. The hacker gained control by exploiting a weak administrative key system, minted millions of USDR and EURR tokens without real backing, and caused a market crash by dumping tokens into illiquid pools. Despite only cashing out about $2.8 million, the incident destroyed investor confidence and liquidity, pushing USDR to $0.63. StablR's silence and lack of recent audits worsened the crisis, and holders are advised to exit positions to avoid total losses.
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