Resolv Confirms Platform Attack, Halts All Protocol Functions

KuCoinFlash

Release Time: 03/22/2026 05:05:39

Summary

Resolv confirmed a platform attack during a protocol update on March 22, revealing that hackers minted 50 million USR tokens without asset backing. The team has paused all protocol functions to prevent further damage and is working on recovery. Earlier reports indicate that attackers spent 200,000 USDC to mint 80 million USR, later converting them into wstUSR and then into USDC and USDT. On-chain data shows $17.24 million in stablecoins was used to purchase 9,111 ETH.

BlockBeats report, on March 22, Resolv posted that "the platform was attacked, and the attacker minted 50 million unbacked USR. The team has paused all protocol functions to prevent further malicious activity and is actively working on recovery."

Previously reported, the Resolv attackers spent 200,000 USDC to mint 80 million USR. Subsequently, the attackers converted USR to wstUSR, then exchanged it for USDC and USDT. So far, $17.24 million in USDC and USDT has been used to purchase 9,111 ETH.

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