StablR halts USDR and EURR after $13.5M unbacked mint…

European stablecoin issuer StablR has frozen minting and redemption for its USDR and EURR tokens after an attacker exploited a critical weakness in its Ethereum multisig wallet setup, minting roughly $13.5 million in unbacked tokens. Blockchain security firm GoPlus Security identified the root cause: StablR's minting wallet was configured with a dangerously low 1-of-3 multisig threshold, meaning a single compromised key was enough for the attacker to add themselves as admin, remove legitimate signers, and mint 8.35 million USDR and 4.5 million EURR freely.

Thin DEX liquidity limited the attacker's actual take to approximately $2.8 million after offloading the freshly minted supply, but the damage to the peg was severe. USDR briefly lost up to 50% of its peg before partially recovering to $0.994; EURR remains critically depressed at $0.548 against a euro currently worth $1.16.