Odaily Planet Daily reports that Euler Labs has acknowledged the security incident involving unauthorized minting of USR, as reported by Resolv, and is actively investigating. As a precautionary measure, RLP has been disabled as collateral in the Arbitrum Euler Yield vault, and Euler Earn USDC on Arbitrum is no longer being allocated to Euler Yield. These steps are designed to isolate exposure while the situation continues to be assessed. Euler Labs will provide further updates as more information becomes available.
Euler Labs Investigates Unauthorized USR Minting and Implements Risk Mitigation Measures
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Summary
Euler Labs is addressing the unauthorized USR minting reported by Resolv and evaluating risk management measures. To reduce exposure, RLP has been removed as collateral in the Arbitrum Euler Yield vault, and USDC in Euler Earn on Arbitrum is no longer being sent to Euler Yield. These actions aim to balance the risk-to-reward ratio while the issue is investigated. Updates will be provided as more information becomes available.
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