Attacker Steals $23M in Ether by Exploiting Resolv Labs Stablecoin via AWS Key Breach

An attacker accessed Resolv Labs’ private AWS keys to mint $80 million in unbacked USR tokens and swap them for stablecoins and Ether, stealing $23 million in Ether. This hack caused the USR stablecoin price to drop over 80%, forcing Resolv Labs to disable minting and redemption functions to stem losses. Investigations are ongoing, with stakeholders watching closely for recovery efforts and potential regulatory responses.