USR Depegs Sharply Following Private Key Compromise

Resolv Labs reported a significant security breach involving a private key compromise, which allowed an attacker to mint approximately $80 million worth of uncollateralized USR. According to NS3.AI, this incident led to a sharp depeg of USR, dropping its value to around $0.23. The attacker is estimated to have profited by acquiring 11,409 ETH, valued at over $23 million. In the aftermath, traders exploited the mispriced USR as collateral to borrow other assets from associated decentralized finance (DeFi) markets.