Resolv Labs: 9 million illegally minted USR tokens have been destroyed. Do not trade related tokens during the restoration period.
PANews reported on March 23 that Resolv Labs issued an update regarding the security incident , stating that a malicious attacker illegally accessed Resolv infrastructure yesterday using a stolen private key, minting approximately $80 million worth of uncollateralized USR. The relevant smart contracts were quickly suspended, and approximately 9 million USR held by the attacker were destroyed to mitigate the potential impact. Currently, the protocol holds approximately $141 million in assets, and the confirmed actual impact is only about $500,000 in redemptions processed before the suspension. The current USR supply consists of 102 million USR before the incident and approximately 71 million newly minted, illegally obtained tokens. As a first step in recovery, Resolv plans to allow redemptions of pre-incident USR, starting with whitelisted users, from March 23, 2026. Affected users should coordinate directly with RDAL through official channels.
The announcement stated that the incident stemmed from unauthorized actions by a third party, including targeted infrastructure attacks. Resolv's underlying collateral was not directly affected. The team is tracking and attempting to control the illegally minted USR and other affected assets, coordinating with partners and counterparties, and collaborating with law enforcement and on-chain analytics companies to trace those responsible. Resolv strongly advises against trading USR or related Resolv tokens during the recovery process, as user trading activities after the incident may impact the recovery process.
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