StablR Exploit: $13.5M Unbacked Stablecoins Minted in MiCA Breach
European issuer StablR has frozen its USDR and EURR stablecoins after an attacker compromised a single key in a 1-of-3 multisig and minted $13.5 million in unbacked tokens. The breach was a governance failure, not a smart contract bug, and it left a MiCA-regulated issuer under-collateralised.
By
Samson Mackeown
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4 min