🔥 HOT: DeFi project Resolv hacked, $RESOLV token price plummets to "ground level", hacker pockets $25 million

A serious attack just occurred on the #DeFi Resolv platform when a hacker exploited a smart contract vulnerability to illegally mint up to 80 million $USR – the project's stablecoin. Notably, the attacker only needed to spend approximately 200,000 $USDC initially but quickly amplified it into a massive amount.

After minting this amount of $USR , the hacker immediately swapped to $USDT and $ETH to dispose of the funds, recovering estimated profits of over $25 million. The speed of execution was so fast that the system had almost no time to react.

The consequence is that $USR lost its peg severely, at one point dropping to just around $0.25 USD. The incident not only affected #Resolv alone but also dragged numerous other DeFi protocols using $USR as collateral into liquidity shortage situations, creating a domino effect.

A major controversial point is the slow response from the project team, taking approximately 3 hours before taking action to shut down the system. Currently Resolv states it is investigating the cause, assessing damages, and finding solutions for users.

Once again, the "stablecoin is also not stable" story is brought up again in the #crypto market.