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{"actor":"system:backfill","investigation_id":"67c1f560-0143-47ba-8309-7ce127131ff6","kind":"publish","page_slug":"stablr","published_at":"2026-05-31T07:19:50.728Z","sequence_num":1,"snapshot":{"content_type":"investigation","entity_name":"StablR","sections":[{"content":"On May 24, 2026, blockchain security firm Blockaid issued a community alert that StablR's minting contracts on Ethereum were actively being exploited. The root cause was identified as a private key compromise on a single signer within StablR's 1-of-3 multisignature minting wallet — meaning any one of three authorized keyholders could independently approve minting transactions without additional co-signers. The attacker leveraged the compromised key to add their own address as a contract owner, remove the two remaining legitimate signers, and then call the mint function repeatedly. Approximately 8.35 million USDR and 4.5 million EURR were minted in unbacked form, representing roughly $13.5 million at face value. Blockaid characterized the incident as 'a key management and governance failure,' not a smart contract vulnerability. The attacker subsequently dumped all minted tokens on decentralized exchanges, realizing approximately 1,115 ETH (~$2.8 million net) due to thin DEX liquidity absorbing the sell pressure at steep discounts.","heading":"Exploit Overview","severity":"critical","sources":[{"credibility":2,"name":"StablR's EURR and USDR depeg after attacker mints $13.5 million in unbacked tokens — The Block","type":"news_article","url":"https://www.theblock.co/post/402429/stablrs-eurr-and-usdr-depeg-after-attacker-mints-13-5-million-in-unbacked-tokens-through-multisig-exploit"},{"credibility":2,"name":"StablR freezes USDR and EURR after attacker mints $13.5 million in unbacked tokens — CoinDesk","type":"news_article","url":"https://www.coindesk.com/markets/2026/05/26/stablr-freezes-usdr-and-eurr-after-attacker-mints-usd13-5-million-in-unbacked-tokens"},{"credibility":2,"name":"StablR stablecoin exploit triggers EURR and USDR depeg — Cryptonomist","type":"news_article","url":"https://en.cryptonomist.ch/2026/05/24/stablr-stablecoin-exploit-eurr-usdr-depeg/"},{"credibility":2,"name":"StablR depeg shock hits EURR and USDR after $2.8M exploit warning — crypto.news","type":"news_article","url":"https://crypto.news/stablr-depeg-shock-hits-eurr-and-usdr-after-2-8m-exploit-warning/"},{"credibility":2,"name":"StablR stablecoin contracts potentially exploited for more than $3 million — Crypto Briefing","type":"news_article","url":"https://cryptobriefing.com/stablecoin-issuer-stablr-hit-suspected-3m-smart-contract-exploit-zachxbt/"}]},{"content":"The exploit was made possible by a critically weak multisig threshold for a regulated production minting contract. A 1-of-3 multisig configuration requires only a single private key to authorize any transaction — including adding new owners, removing existing signers, and minting arbitrary token quantities. This design offers no meaningful defense against a single-point-of-compromise and is considered insufficient for high-value or regulated financial infrastructure. For comparison, the Harmony Horizon bridge operated under a 2-of-5 multisig before losing $100 million in 2022 — and that configuration was already considered under-secured. StablR's 1-of-3 setup for a MiCA-licensed entity issuing euro and dollar stablecoins with over $3 billion in reported transaction volume represented an objectively weaker governance posture for a 2026 regulated issuer. The attacker's wallet was reportedly funded via Circle's Cross-Chain Transfer Protocol (CCTP) on the Noble blockchain prior to executing the exploit, suggesting deliberate preparation. Attack addresses identified by ZachXBT include the primary address 0xea480c23d7b29a515856aafe0dc86f7519965a04 and at least seven associated addresses: 0xD4677B5A8B1b97EA213Fdb876b0FcBAB3f9F6CD1, 0x09BE1A36c2d7f9909eb3D6F9184c6e46A12B0ACA, 0x6283558eB6948CA50A2bE942D98A41ca4d1Def40, 0xf1f70d7461356f32b97ddc2cd54a490d4363340e, 0x74b4621b82eb31c5fd9fbad5729bef1813e26dcf, 0x8aaa93d06bf8de94c282f66a16effe6d9d94d038, and 0x5D2184d84b82B67c1818Bbec8ce81E7Df14F6bAb. An additional secondary address 0x482aC1a69A41e7657DE6B420B7346FB09DA09115 and tertiary address 0xbC631Daf86611f32FAA63E7EC8c9c9571F2F5BB3 were also reported in connection with the attack.","heading":"Technical Analysis: Multisig Architecture Failure","severity":"critical","sources":[{"credibility":2,"name":"Can MiCA Prevent Multisig Hacks? StablR's $10M Exploit Exposes the Gap — CryptoTimes","type":"news_article","url":"https://www.cryptotimes.io/2026/05/25/can-mica-prevent-multisig-hacks-stablrs-10m-exploit-exposes-the-gap/"},{"credibility":2,"name":"ZachXBT says StablR-linked contracts hacked for more than $3 million — CoinReporter","type":"news_article","url":"https://www.coinreporter.io/2026/05/zachxbt-says-stablr-linked-contracts-hacked-for-more-than-3-million-eurr-usdr-crash-by-20/"},{"credibility":2,"name":"ZachXBT Flags Possible $10M StablR Exploit as EURR and USDR Stablecoins Sink 20% — Blockonomi","type":"news_article","url":"https://blockonomi.com/zachxbt-flags-possible-10m-stablr-exploit-as-eurr-and-usdr-stablecoins-sink-20/"}]},{"content":"Both EURR and USDR suffered immediate and severe peg loss following the exploit. EURR, the euro-denominated stablecoin, dropped approximately 20-39% below its intended peg, with various sources reporting it reaching as low as €0.70 (a 39% depeg) and trading at $0.548 by some CoinGecko readings in the aftermath. USDR, the dollar-denominated stablecoin, extended its depeg to as much as 37% below parity (reaching $0.63 per U.Today reporting) and was observed as low as $0.40 during peak selling pressure. The sell pressure was amplified because the attacker was simultaneously liquidating $13.5 million face value of freshly minted tokens across DEX liquidity pools that lacked the depth to absorb the volume at par — resulting in cascading slippage and panic selling by existing holders. At the time of the Cryptonomist report, USDR and EURR had market capitalizations of approximately $20 million and $10 million respectively, meaning the $13.5 million in minted unbacked tokens represented a supply increase of 67% for USDR and 45% for EURR relative to the legitimate circulating supply. Both tokens remained at depressed levels and suspended for trading on most platforms as of the latest reporting.","heading":"Market Impact and Depeg","severity":"critical","sources":[{"credibility":2,"name":"USD Stablecoin USDR Extends De-Peg to 37% Following $10 Million Governance Exploit — U.Today","type":"news_article","url":"https://u.today/usd-stablecoin-usdr-extends-de-peg-to-37-following-10-million-governance-exploit"},{"credibility":2,"name":"StablR Stablecoins Depeg After $2.8M Exploit — BeInCrypto","type":"news_article","url":"https://beincrypto.com/stablr-stablecoin-depeg-exploit/"},{"credibility":2,"name":"StablR stablecoin exploit triggers EURR and USDR depeg — Cryptonomist","type":"news_article","url":"https://en.cryptonomist.ch/2026/05/24/stablr-stablecoin-exploit-eurr-usdr-depeg/"}]},{"content":"On-chain investigator ZachXBT publicly flagged the exploit via his Telegram investigations channel on the evening of May 24, 2026 (approximately 9:46 PM ET), initially estimating the exploit at approximately $10 million across EURR and USDR contracts. In a follow-up post at approximately 11:52 PM ET, ZachXBT reported that he had assisted in freezing a six-figure sum of the stolen funds. ZachXBT also noted that the StablR team appeared inactive while the breach was actively unfolding on-chain. Oobit, a payments application and known StablR partner through which the attacker allegedly attempted to exit funds via an off-ramp, detected the irregularity through its compliance systems. Oobit stated: 'We detected the attempt, froze 6 figures in EURR, and shut down the off-ramp in less than 2 hours.' The company further stated: 'No user funds touched. No breach. No hesitation.' Oobit confirmed it is cooperating with StablR and the relevant investigating authorities to assist fund recovery. The Oobit freeze and ZachXBT's rapid public disclosure are credited with preventing a larger portion of the stolen funds from being laundered, though the attacker is estimated to have already extracted approximately $2.8 million in ETH before mitigation efforts took effect.","heading":"ZachXBT Alert and Oobit Response","severity":"high","sources":[{"credibility":2,"name":"Oobit Halts Off-Ramp After ZachXBT Flags EURR Exploit — CryptoTimes","type":"news_article","url":"https://www.cryptotimes.io/2026/05/26/oobit-halts-off-ramp-after-zachxbt-flags-eurr-exploit/"},{"credibility":2,"name":"ZachXBT Flags Possible $10M StablR Exploit as EURR and USDR Stablecoins Sink 20% — Blockonomi","type":"news_article","url":"https://blockonomi.com/zachxbt-flags-possible-10m-stablr-exploit-as-eurr-and-usdr-stablecoins-sink-20/"},{"credibility":2,"name":"StablR freezes USDR and EURR after attacker mints $13.5 million in unbacked tokens — CoinDesk","type":"news_article","url":"https://www.coindesk.com/markets/2026/05/26/stablr-freezes-usdr-and-eurr-after-attacker-mints-usd13-5-million-in-unbacked-tokens"}]},{"content":"The incident created a direct conflict with StablR's obligations under the EU's Markets in Crypto-Assets (MiCA) regulation, under which the company was licensed as an Electronic Money Token (EMT) issuer. MiCA requires that stablecoin issuers maintain 1:1 reserve backing at all times, disclose reserve composition, and uphold redemption rights for holders. In its official statement, StablR acknowledged that 'the circulating supply of both tokens is currently not fully backed at the 1:1 ratio required by MiCA' — a direct admission of a regulatory compliance breach. However, analysts and industry observers noted that MiCA's framework conspicuously lacks prescriptive technical standards for private key management, multisig threshold requirements for minting contracts, or on-chain governance architecture audits. While MiCA mandates 'operational resilience,' the Digital Operational Resilience Act (DORA, effective January 2025) was designed for traditional IT resilience and does not cover blockchain-specific vulnerabilities such as weak multisig configurations. StablR stated it planned to notify the Malta Financial Services Authority (MFSA) under applicable MiCA incident reporting requirements and DORA obligations. External cybersecurity firms and law enforcement agencies were engaged. The episode is being cited by EU policy observers as evidence of a gap in MiCA's technical security framework for stablecoin issuers.","heading":"MiCA Compliance Implications","severity":"high","sources":[{"credibility":2,"name":"Can MiCA Prevent Multisig Hacks? StablR's $10M Exploit Exposes the Gap — CryptoTimes","type":"news_article","url":"https://www.cryptotimes.io/2026/05/25/can-mica-prevent-multisig-hacks-stablrs-10m-exploit-exposes-the-gap/"},{"credibility":2,"name":"StablR USDR EURR hack triggers MiCA backing shortfall — Cryptonomist","type":"news_article","url":"https://en.cryptonomist.ch/2026/05/26/stablr-usdr-eurr-hack-mica/"},{"credibility":2,"name":"StablR freezes USDR and EURR after attacker mints $13.5 million in unbacked tokens — CoinDesk","type":"news_article","url":"https://www.coindesk.com/markets/2026/05/26/stablr-freezes-usdr-and-eurr-after-attacker-mints-usd13-5-million-in-unbacked-tokens"}]},{"content":"StablR issued an official statement on X (formerly Twitter) on May 26, 2026, confirming: 'We have identified an exploit affecting StablR and are actively working to contain it and minimize impact.' The company suspended minting and redemption services for both USDR and EURR tokens and requested that exchanges halt all trading, deposits, and withdrawals for both assets pending investigation. StablR acknowledged the circulating supply was no longer fully backed 1:1 as required under MiCA. The company committed to notifying the MFSA under MiCA and DORA reporting obligations, and engaged external cybersecurity firms and law enforcement. No detailed remediation roadmap — including timeline for reserve replenishment, conditions for service restoration, or compensation mechanism for affected holders — had been publicly disclosed as of the latest available reporting.","heading":"StablR's Official Response and Remediation","severity":"high","sources":[{"credibility":2,"name":"StablR freezes USDR and EURR after attacker mints $13.5 million in unbacked tokens — CoinDesk","type":"news_article","url":"https://www.coindesk.com/markets/2026/05/26/stablr-freezes-usdr-and-eurr-after-attacker-mints-usd13-5-million-in-unbacked-tokens"},{"credibility":2,"name":"StablR stablecoin exploit triggers EURR and USDR depeg — Cryptonomist","type":"news_article","url":"https://en.cryptonomist.ch/2026/05/24/stablr-stablecoin-exploit-eurr-usdr-depeg/"}]},{"content":"StablR was founded by Gijs op de Weegh, who serves as CEO, and is co-controlled by op de Weegh and a co-founder identified in Dutch corporate records as Van der Meijden. StablR is incorporated in Malta and holds an Electronic Money Institution license from the MFSA, received June 21, 2024. The company uses Tether's Hadron tokenization platform for its token infrastructure. StablR raised a €3.3 million (~$3.46 million) seed round from investors including Deribit, Theta Capital, Blocktech, and Folkvang. In December 2024, Tether made a strategic equity investment in StablR for an undisclosed sum — a notable arrangement given that Tether itself does not hold a MiCA license and reportedly retreated from EU markets ahead of MiCA's December 30, 2024 implementation deadline. In July 2025, Kraken announced a strategic investment in StablR, also for an undisclosed amount. By mid-2025, EURR and USDR were listed on over 50 exchanges including Bitfinex, Bybit, and HTX, with StablR reporting over €3 billion in transaction volume. FinTelegram has raised questions about Gijs op de Weegh's prior role as COO of Payvision, a Dutch payment processor where Dutch authorities filed a criminal complaint in 2020 related to alleged processing of funds for boiler room scams and binary options fraud. According to FinTelegram, this history was not disclosed in StablR's MiCA white paper. These allegations are sourced primarily from FinTelegram and should be treated as low-to-medium confidence pending independent verification.","heading":"Background: StablR Corporate Structure and Investors","severity":"medium","sources":[{"credibility":3,"name":"Critical Report: StablR's Regulatory Risk and Opaque Legacy — FinTelegram","type":"news_article","url":"https://fintelegram.com/%F0%9F%9A%A8-critical-report-stablrs-regulatory-risk-and-opaque-legacy-what-maltas-mfsa-must-investigate/"},{"credibility":2,"name":"StablR Secures Strategic Investment from Kraken — GlobeNewswire","type":"news_article","url":"https://www.globenewswire.com/news-release/2025/07/21/3118880/0/en/StablR-Secures-Strategic-Investment-from-Kraken-as-Stablecoin-Adoption-Surges.html"},{"credibility":2,"name":"Tether Invests in StablR, Backing Euro and USD Stablecoins as MiCA Regulations Approach — Yahoo Finance / press release","type":"news_article","url":"https://finance.yahoo.com/news/tether-invests-stablr-backing-euro-055026417.html"},{"credibility":3,"name":"Payvision Scandal: Dutch Authorities Cover Up Fraud, Former COO Now Runs Regulated Stablecoin Provider — FinTelegram","type":"news_article","url":"https://fintelegram.com/payvision-scandal-dutch-authorities-cover-up-fraud-former-coo-now-runs-regulated-stablecoin-provider/"},{"credibility":2,"name":"Malta-based StablR acquires Electronic Money Institution licence — WhoIsWho Malta","type":"other","url":"https://whoswho.mt/en/malta-based-stablr-acquires-electronic-money-institution-licence-in-most-promising-development-in-crypto-space"}]},{"content":"FinTelegram, an investigative financial news outlet, has published multiple reports alleging that StablR CEO Gijs op de Weegh's role as COO of Payvision — which allegedly facilitated payment processing for boiler room fraud operations and binary options scams — was not disclosed in StablR's MiCA compliance white paper. FinTelegram alleges this omission could constitute regulatory misrepresentation under EU law. A Dutch central bank (DNB) criminal complaint filed in 2020 against Payvision is cited by FinTelegram in this context. These claims have not been verified by Tier 1 or Tier 2 sources and are derived exclusively from FinTelegram reporting; they should be treated as low confidence. No regulatory action against op de Weegh personally or against StablR on these grounds has been publicly confirmed by the MFSA or Dutch authorities.","heading":"Alleged Prior Concerns: CEO Background (Low Confidence)","severity":"low","sources":[{"credibility":3,"name":"Questioning the Transparency in the Biography of StablR Founder Gijs op de Weegh — FinTelegram","type":"news_article","url":"https://fintelegram.com/questioning-the-transparency-in-the-biography-of-stablr-founder-gijs-op-de-weegh/"},{"credibility":3,"name":"StablR's Dutch Holding Web: Who Really Controls the MFSA-Regulated Stable-Coin Issuer? — FinTelegram","type":"news_article","url":"https://fintelegram.com/stablrs-dutch-holding-web-who-really-controls-the-mfsa-regulated-stable-coin-issuer/"}]}],"sources_used":[{"credibility":2,"name":"StablR's EURR and USDR depeg after attacker mints $13.5 million in unbacked tokens — The Block","type":"news_article","url":"https://www.theblock.co/post/402429/stablrs-eurr-and-usdr-depeg-after-attacker-mints-13-5-million-in-unbacked-tokens-through-multisig-exploit"},{"credibility":2,"name":"StablR freezes USDR and EURR after attacker mints $13.5 million in unbacked tokens — CoinDesk","type":"news_article","url":"https://www.coindesk.com/markets/2026/05/26/stablr-freezes-usdr-and-eurr-after-attacker-mints-usd13-5-million-in-unbacked-tokens"},{"credibility":2,"name":"Oobit Halts Off-Ramp After ZachXBT Flags EURR Exploit — CryptoTimes","type":"news_article","url":"https://www.cryptotimes.io/2026/05/26/oobit-halts-off-ramp-after-zachxbt-flags-eurr-exploit/"},{"credibility":2,"name":"Can MiCA Prevent Multisig Hacks? StablR's $10M Exploit Exposes the Gap — CryptoTimes","type":"news_article","url":"https://www.cryptotimes.io/2026/05/25/can-mica-prevent-multisig-hacks-stablrs-10m-exploit-exposes-the-gap/"},{"credibility":2,"name":"StablR stablecoin exploit triggers EURR and USDR depeg — Cryptonomist","type":"news_article","url":"https://en.cryptonomist.ch/2026/05/24/stablr-stablecoin-exploit-eurr-usdr-depeg/"},{"credibility":2,"name":"StablR USDR EURR hack triggers MiCA backing shortfall — Cryptonomist","type":"news_article","url":"https://en.cryptonomist.ch/2026/05/26/stablr-usdr-eurr-hack-mica/"},{"credibility":2,"name":"StablR depeg shock hits EURR and USDR after $2.8M exploit warning — crypto.news","type":"news_article","url":"https://crypto.news/stablr-depeg-shock-hits-eurr-and-usdr-after-2-8m-exploit-warning/"},{"credibility":2,"name":"USD Stablecoin USDR Extends De-Peg to 37% Following $10 Million Governance Exploit — U.Today","type":"news_article","url":"https://u.today/usd-stablecoin-usdr-extends-de-peg-to-37-following-10-million-governance-exploit"},{"credibility":2,"name":"StablR Stablecoins Depeg After $2.8M Exploit — BeInCrypto","type":"news_article","url":"https://beincrypto.com/stablr-stablecoin-depeg-exploit/"},{"credibility":2,"name":"ZachXBT says StablR-linked contracts hacked for more than $3 million — CoinReporter","type":"news_article","url":"https://www.coinreporter.io/2026/05/zachxbt-says-stablr-linked-contracts-hacked-for-more-than-3-million-eurr-usdr-crash-by-20/"},{"credibility":2,"name":"ZachXBT Flags Possible $10M StablR Exploit as EURR and USDR Stablecoins Sink 20% — Blockonomi","type":"news_article","url":"https://blockonomi.com/zachxbt-flags-possible-10m-stablr-exploit-as-eurr-and-usdr-stablecoins-sink-20/"},{"credibility":2,"name":"StablR stablecoin contracts potentially exploited for more than $3 million — Crypto Briefing","type":"news_article","url":"https://cryptobriefing.com/stablecoin-issuer-stablr-hit-suspected-3m-smart-contract-exploit-zachxbt/"},{"credibility":2,"name":"StablR Secures Strategic Investment from Kraken — GlobeNewswire","type":"news_article","url":"https://www.globenewswire.com/news-release/2025/07/21/3118880/0/en/StablR-Secures-Strategic-Investment-from-Kraken-as-Stablecoin-Adoption-Surges.html"},{"credibility":2,"name":"Tether Invests in StablR — Yahoo Finance","type":"news_article","url":"https://finance.yahoo.com/news/tether-invests-stablr-backing-euro-055026417.html"},{"credibility":3,"name":"Critical Report: StablR's Regulatory Risk and Opaque Legacy — FinTelegram","type":"news_article","url":"https://fintelegram.com/%F0%9F%9A%A8-critical-report-stablrs-regulatory-risk-and-opaque-legacy-what-maltas-mfsa-must-investigate/"},{"credibility":3,"name":"Payvision Scandal: Dutch Authorities, Former COO Now Runs Regulated Stablecoin Provider — FinTelegram","type":"news_article","url":"https://fintelegram.com/payvision-scandal-dutch-authorities-cover-up-fraud-former-coo-now-runs-regulated-stablecoin-provider/"},{"credibility":2,"name":"Malta-based StablR acquires Electronic Money Institution licence — WhoIsWho Malta","type":"other","url":"https://whoswho.mt/en/malta-based-stablr-acquires-electronic-money-institution-licence-in-most-promising-development-in-crypto-space"},{"credibility":2,"name":"StablR Hack: European Stablecoin Issuer Reportedly Loses Over $10 Million — CryptoRank","type":"news_article","url":"https://cryptorank.io/news/feed/61aaf-stablr-hack-european-stablecoin-issuer"},{"credibility":2,"name":"StablR Stablecoins Lose Peg After Multisig Breach — CryptoWisser","type":"news_article","url":"https://www.cryptowisser.com/news/stablr-stablecoins-lose-peg-after-multisig-breach-mints-millions-in-unathorized-tokens"}],"summary":"StablR is a Malta-based, MiCA-regulated stablecoin issuer holding an Electronic Money Institution license from the Malta Financial Services Authority (MFSA), backed by strategic investors including Tether and Kraken. On May 24, 2026, an attacker compromised a single private key on the issuer's 1-of-3 minting multisig, gaining full administrative control and minting approximately 8.35 million USDR and 4.5 million EURR (~$13.5 million face value in unbacked tokens). The attacker extracted an estimated $2.8 million net profit after selling into thin DEX liquidity, causing both stablecoins to depeg by more than 20%; StablR subsequently froze minting and redemption, acknowledged the breach caused a MiCA-mandated 1:1 reserve shortfall, and engaged law enforcement and external cybersecurity firms.","timeline":[{"date":"2024-06-21","event":"StablR receives Electronic Money Institution license from the Malta Financial Services Authority, the first formal MiCA-pathway authorization for EURR and USDR.","source":"WhoIsWho Malta","source_url":"https://whoswho.mt/en/malta-based-stablr-acquires-electronic-money-institution-licence-in-most-promising-development-in-crypto-space"},{"date":"2024-12-17","event":"Tether announces a strategic equity investment in StablR for an undisclosed amount, coinciding with Tether's retreat from EU markets ahead of MiCA's December 30, 2024 implementation deadline.","source":"Yahoo Finance","source_url":"https://finance.yahoo.com/news/tether-invests-stablr-backing-euro-055026417.html"},{"date":"2025-07-21","event":"Kraken announces a strategic equity investment in StablR. By this point EURR and USDR are listed on 50+ exchanges with over €3 billion in reported transaction volume.","source":"GlobeNewswire","source_url":"https://www.globenewswire.com/news-release/2025/07/21/3118880/0/en/StablR-Secures-Strategic-Investment-from-Kraken-as-Stablecoin-Adoption-Surges.html"},{"date":"2026-05-24","event":"Attacker's wallet is funded via Circle's CCTP bridge on Noble blockchain in preparation for the exploit. Attacker compromises a single private key on StablR's 1-of-3 minting multisig, adds themselves as owner, removes the two legitimate signers, and begins minting unbacked USDR and EURR.","source":"Blockonomi / CoinReporter","source_url":"https://blockonomi.com/zachxbt-flags-possible-10m-stablr-exploit-as-eurr-and-usdr-stablecoins-sink-20/"},{"date":"2026-05-24","event":"Blockchain security firm Blockaid issues public community alert that StablR's minting contracts are being actively exploited.","source":"Cryptonomist","source_url":"https://en.cryptonomist.ch/2026/05/24/stablr-stablecoin-exploit-eurr-usdr-depeg/"},{"date":"2026-05-24","event":"ZachXBT posts to his Telegram investigations channel at approximately 9:46 PM ET, flagging a possible $10 million exploit across EURR and USDR contracts. Both tokens immediately begin depegging by 20%+.","source":"Blockonomi","source_url":"https://blockonomi.com/zachxbt-flags-possible-10m-stablr-exploit-as-eurr-and-usdr-stablecoins-sink-20/"},{"date":"2026-05-24","event":"Attacker dumps approximately $10.4 million face value of minted USDR and EURR into DEX liquidity pools across Ethereum, extracting approximately 1,115 ETH (~$2.8 million net) due to slippage. USDR depeg extends to 37% ($0.63) and EURR falls as low as $0.70.","source":"U.Today / BeInCrypto","source_url":"https://u.today/usd-stablecoin-usdr-extends-de-peg-to-37-following-10-million-governance-exploit"},{"date":"2026-05-24","event":"Attacker attempts to exit stolen funds via Oobit's off-ramp service. Oobit's compliance team detects the irregularity and freezes a six-figure amount of EURR within approximately two hours, shutting down the off-ramp.","source":"CryptoTimes","source_url":"https://www.cryptotimes.io/2026/05/26/oobit-halts-off-ramp-after-zachxbt-flags-eurr-exploit/"},{"date":"2026-05-24","event":"ZachXBT posts follow-up at approximately 11:52 PM ET confirming assistance in freezing a six-figure sum of stolen funds.","source":"CoinReporter","source_url":"https://www.coinreporter.io/2026/05/zachxbt-says-stablr-linked-contracts-hacked-for-more-than-3-million-eurr-usdr-crash-by-20/"},{"date":"2026-05-26","event":"StablR issues official statement on X acknowledging the exploit, suspending minting and redemption for USDR and EURR, admitting circulating supply is no longer fully backed 1:1 per MiCA requirements, and announcing engagement of external cybersecurity firms and law enforcement. Company states intention to notify MFSA under MiCA and DORA reporting obligations.","source":"CoinDesk","source_url":"https://www.coindesk.com/markets/2026/05/26/stablr-freezes-usdr-and-eurr-after-attacker-mints-usd13-5-million-in-unbacked-tokens"}]},"v":1}