Oobit, a mobile wallet backed by Tether, clarified on X that after blockchain investigator ZachXBT disclosed a $13.5 million exploit targeting two StablR smart contracts (EURR and USDR), the compromised funds attempted to exit via Oobit. Oobit’s compliance team identified the suspicious activity, successfully froze $100,000 worth of EURR funds, and shut down the withdrawal channels. Oobit stated that user funds were unaffected, its systems were not compromised, and it is cooperating with StablR and investigators to resolve the matter. Previously, it was reported that StablR suffered a hack resulting in approximately $2.8 million in losses, with both EURR and USDR losing their pegs.
Oobit Freezes $100,000 EURR Amid StablR Hack
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Summary
Oobit froze $100,000 in EURR following a crypto hack that targeted StablR’s EURR and USDR smart contracts, resulting in $13.5 million in losses. The exchange breach caused both stablecoins to de-peg, with StablR reportedly losing $2.8 million. Oobit’s compliance team shut down the withdrawal channel and confirmed no user funds were affected. The wallet, backed by Tether, stated its systems remained secure.
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