Resolv Labs USR minting flaw lets attacker create tens of millions with minimal collateral, sparking steep depeg

Multiple reports allege an exploit of Resolv Labs’ USR minting contract that allowed roughly 50 million USR to be minted using about $100,000 in USDC, a discrepancy described as a roughly 500x flaw; on-chain trackers and PeckShield were cited as saying about $80 million worth of USR was minted and that over $4.55 million was converted into roughly 9,100 ETH ^[1].

The incident reportedly caused USR to lose its peg and tumble as much as 74.2% to $0.257 before a partial rebound (some outlets reported different short-term price movements), leaving liquidity providers exposed to heavy losses as markets re-priced the token ^{[1] [2] [3]}.

Other outlets cautioned that early claims were unverified and that, at the time of reporting, Resolv Labs had not issued an official confirmation; some analysts and news sites emphasized the broader implications for smart‑contract security and the need for continued on‑chain and third‑party investigation ^{[4] [5] [3]}.

Investigations and on‑chain monitoring are ongoing; reporters and security firms have urged caution until independent audits or official statements clarify the extent and mechanics of the reported minting event ^{[1] [4]}.