Another stable coin attack reignites the debate over crypto centralization.

According to blockchain sleuth ZachXBT, two contracts related to StablR may have been exploited in an attack worth more than $3 million.

A private key exploit let an attacker mint $10 million in StablR tokens and dump them for ETH, depegging EURR and USDR.

StablR stablecoin exploit: minting non autorizzato ha causato depeg di EURR e USDR, sollevando timori su governance, chiavi e liquidità.

StablR's EURR and USDR lost their pegs May 24 after a 1-of-3 multisig exploit minted $10.4M in unbacked tokens on DEXes.

StablR, a European stablecoin issuer backed by Tether, suffered an exploit on Saturday that drained funds from its minting contract and sent both its euro and dollar-pegged tokens…

EURR fell to $0.85 and USDR fell as low as $0.40 after an attacker dumped roughly $10.4 million in face value on decentralized exchanges.

The breach, linked to a 1-of-3 multisig wallet weakness, allowed attackers to compromise a key and mint $13.5 million in unbacked tokens, netting them $2.8 million.

Hack stablecoin StablR: token non garantiti creati, USDR ed EURR hanno perso il peg; minting sospeso e indagini MiCA in corso.

Another stable coin attack reignites the debate over crypto centralization.