The Resolv platform suffered a severe attack, with its issued stablecoin USR experiencing a 69.1% decline post-attack, falling to $0.29 and severely losing its peg. The attacker exploited protocol vulnerabilities, spending only 200,000 USDC to mint 80 million USR, subsequently converting through wstUSR and purchasing approximately 9,111 ETH. The team has urgently suspended protocol functions.

This incident once again exposes crypto risks: the "stability" of stablecoins is built upon the rigor of mechanism design, and once a vulnerability exists, the peg collapses instantly. The key to this attack lies in the defects of the "deposit staking" mechanism—the attacker exploited the protocol's logic allowing users to deposit staking assets and mint USR, using a certain method to amplify small deposits several times over to mint stablecoins far exceeding their value.

What deserves attention is that Resolv is not an isolated case. From Terra's UST collapse to Curve's Vyper vulnerability, the stablecoin track has repeatedly paid a heavy price due to mechanism design flaws or code vulnerabilities. USR's deviation from peg to $0.29 indicates that market confidence has been seriously shaken. Even if the team recovers the protocol, rebuilding trust will require a lengthy period. $RESOLV