Over the weekend, crypto protocol Resolv, which issues the USR stablecoin, was exploited by an attacker who was able to mint nearly 80 million new USR tokens out of thin air after only putting down a few hundred thousand dollars’ worth of collateral. According to reports, the attacker was able to pull off the exploit after gaining access to a private key associated with the centralized backend control for minting new tokens in the protocol.

This notice is issued on behalf of Resolv Digital Assets Ltd. in relation to the Resolv protocol.

Earlier today, a malicious actor gained unauthorized access to Resolv infrastructure through compromised private key, resulting in the minting of approximately $80M of…

— Resolv…