European stablecoin issuer StablR has frozen operations for its USDR and EURR tokens following a cyberattack that left the assets under-collateralized.
StablR suspended minting and redemption services after detecting irregularities in its systems. The breach involved a 1-of-3 multisig wallet, allowing attackers to mint $13.5 million in unbacked tokens and net $2.8 million. Onchain investigator ZachXBT flagged the issue, and the company is working with cybersecurity firms and law enforcement.
Users highlighted the multisig key compromise allowing minting of unbacked tokens and resulting depegs. Reactions focused on security failures rather than smart contract issues, with reminders about the importance of robust key management. Skepticism was expressed regarding MiCA compliance and overall protocol risks in stablecoins. Some posts noted the attacker's $2.8M profit and team response delays as concerning.
🚨 StablR stablecoins just imploded, depegging USDR by 30% after a $2.8M exploit exposed critical security flaws! pic.twitter.com/D3LHhExRC0
— Jay | Web3 Insights (@JayNam2878) 26 Mei 2026
🚨 “MiCA-compliant” stablecoin issuer StablR just got exploited for $2.8M after hackers took over mint permissions and printed unbacked tokens.
— AlphaWire (@AlphaWireHQ) 26 Mei 2026
No smart contract bug, just terrible key management. pic.twitter.com/8F1BdPwpEr
BREAKING 🚨: StablR's EURR and USDR depeg after attacker mints $13.5 million in unbacked tokens through multisig.
— Golden Bull 🐂 (@YourGoldenBull) 26 Mei 2026
Security headlines are a reminder that protocol risk still matters, especially when liquidity is moving quickly across crypto.
On the dark side: StablR got completely cooked for $2.8M due to a private key compromise.
— Kkkurs🐐 (@Sa1ntDG) 26 Mei 2026
Token depegged to zero.
Secure your infrastructure or become exit liquidity for hackers.
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Thorchain suspended trading for about 12 hours after blockchain researcher ZachXBT flagged a suspected $10 million exploit across multiple networks. The liquidity protocol took the action following the alert on a potential breach. Its native RUNE token fell by double digits in response.
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