StablR Euro and USD stablecoins depeg amid ongoing $2.8M exploit

Blockaid said the suspected cause is a private key compromise of one owner in the minting multisig account.

An ongoing exploit is effecting StablR, resulting in the depeg of its euro and US dollar stablecoins, while a compromised private key has been blamed, adding to a growing list of hacks and exploits this month.

Blockchain security firm Blockaid reported on Sunday that its exploit detection system has identified an ongoing exploit on the StablR issuer, with around $2.8 million extracted so far.

StablR said in a X post at 12:10 p.m. UTC that “We have identified an exploit affecting StablR and are actively working to contain it and minimize impact.”

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