Security Incidents

On March 23rd, USR, a stablecoin under Resolv, experienced a major security incident. Attackers exploited a private key leak to mint approximately $80 million in unbacked tokens, causing USR's price to collapse to $0.27, a decline exceeding 70%. Resolv has suspended smart contracts and burned 9 million anomalous tokens, with 71 million unbacked USR remaining in circulation. This incident reflects the fragility of stablecoins in terms of security and transparency, posing challenges to market confidence.

Blockchain investigator ZachXBT warns about a fraudulent account named "Rashid bin Saeed," suspected of misleading users into cryptocurrency "pump-and-dump" schemes. Despite having over 353,000 followers, it was only verified in February 2026 and often changes its name, promoting low-cap meme coins like CHIBI. This highlights a familiar pattern of gaining followers through sensational content before pushing low-liquidity tokens. The warning comes as the Crypto Fear and Greed Index plunges into extreme fear, increasing market manipulation risks.

Gate News reported that on March 23, the IoTeX Foundation announced the official launch of a cross-chain bridge security incident compensation claims channel. According to previous reports, analysts noted that IoTeX private keys were suspected to have been compromised, with asset losses of approximately 4.3 million dollars; the IoTeX official statement indicated that on-chain attack losses were approximately 2 million dollars.

On-chain investigator ZachXBT exposed an account named "Rashid bin Saeed" that attracted attention through false geopolitical information and is suspected of manipulating crypto assets. The account promoted a meme coin called CHIBI and was consistent with high volatility cases, reminding investors to be vigilant about information sources to prevent market manipulation.

Investigator ZachXBT exposed "Rashid bin Saeed" as a fake account that rapidly accumulated followers by posting war-related content with the aim of promoting the low-market-cap token CHIBI for manipulation. Through characteristics such as frequent username changes, abnormally rapid verification status updates, and disproportionate follower counts, the account displayed typical signs of fraud. In an extremely fear-driven market, such manipulation tactics are more likely to succeed.

Decentralized finance protocol Resolv Labs suffered approximately $23 million in losses due to stolen private keys. Morpho protocol remains in good condition with only a small number of vaults affected. The Resolv attack exposed key management vulnerabilities, while Morpho risks are the responsibility of curators and sustained no losses. Users should monitor risk updates.

Since 2026, the decentralized finance sector has experienced at least 15 security attacks, with cumulative losses exceeding $137 million, with major losses concentrated in projects such as Step Finance, Truebit, and Resolv.

Gauntlet is discussing solutions with Resolv and is formulating a compensation plan. The Gauntlet USD Alpha platform and liquidity providers are unaffected by the USR issuance event, with most vaults remaining stable, and only a few high-yield vaults experiencing limited impact.

The founder of Indian cryptocurrency exchange CoinDCX has been arrested by police on suspicion of fraud. The incident originated from a complaint filed by an insurance advisor who claimed to have suffered losses on an unofficial website. CoinDCX has denied the allegations, stating that the fraudulent activity was carried out by counterfeit websites, and indicated that it has reported multiple fake sites. This arrest marks the second police incident involving the company within the past year.

Hailey Welsh suffered significant trauma from the collapse of meme coin HAWK, which she helped promote in 2024. The token's market value plummeted 91% from $490 million. Following an FBI investigation that cleared her of wrongdoing, Welsh faced death threats and experienced mental health damage. She continues to emphasize questions about the boundaries of promotional responsibility.

Resolv Labs announces the enablement of redemption functionality for pre-attack USR, scheduled to launch on March 23rd, with affected users required to contact RDAL. This incident stemmed from a third-party attack, with underlying assets remaining uncompromised. The protocol is currently tracking illegally minted USR and recommends users suspend related transactions.

As prediction market platforms gain attention in US elections and geopolitical events, there are concerns that contract design could lead to artificially manipulated outcomes, damaging market credibility. Political event markets are particularly vulnerable to influence, and it's recommended to establish standards to prevent manipulation by single participants.

A malware called GhostClaw has recently launched attacks targeting cryptocurrency wallet developers on macOS systems. The malware disguises itself as an OpenClaw CLI installer package and has infected 178 developers. After gaining system permissions, it downloads GhostLoader to carry out data theft and monitors the clipboard to capture sensitive information.

The Fluid team has secured short-term loans covering 100% of non-performing debt to ensure user funds safety. ResolvLabs will handle USR positions prior to the security incident, and investors intend to increase FLUID holdings to strengthen protections. Smart contracts are functioning normally, market operations are stable, with potential interest rate fluctuations possible.

USR stablecoin suffered an attack where an attacker exploited a vulnerability in the minting contract to mint over 80 million unsecured tokens from approximately 200,000 USD USDC, causing its collapse to 0.025 USD in the Curve Finance liquidity pool. This incident led to liquidity depletion, impacting multiple DeFi platforms and prompting renewed focus on stablecoin regulatory issues.

Resolv Labs faced a security breach where attackers minted 50M unbacked USR tokens, causing a rapid sell-off that depegged USR. Recovery efforts are ongoing, with losses estimated at $25M, while protocol operations remain paused.

Recently, hackers launched an Android malware attack in Brazil through a phishing website impersonating the Google Play Store, luring users to download a fake application called "INSS Reembolso". The malware is highly stealthy, performs cryptocurrency mining, and supports multiple remote control functions. Some variants also contain banking trojans capable of replacing transfer addresses.

Resolv Labs halted its decentralized finance ( DeFi) protocol early Sunday morning after an exploit allowed an attacker to mint tens of millions of unbacked USR stablecoins, sending the token sharply off its dollar peg. What Caused the Resolv Labs Hack and USR Depeg? The incident struck the Resol

The Resolv network suffered a severe exploit, draining 80M $USR tokens. Attackers rapidly swapped the stolen assets across decentralized exchanges to cover their tracks. The platform has halted operations and is investigating recovery efforts while urging users to stay vigilant.