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Stablecoin Depeg

Reporting and analysis on stablecoin depegging events — what causes them, how far they fall, recovery mechanics, and the market impact on connected DeFi protocols.

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Resolv USR Exploit: Why One Off-Chain Key Broke the Peg

Resolv’s $24M USR exploit was not a normal contract bug. It was a key-management failure that let one privileged signer print unbacked supply.

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Dark technical illustration of a stablecoin exploit showing a compromised off-chain signing key minting unbacked tokens into an Ethereum contract, with swap routes draining value while the collateral vault remains intact.

Web3 Fraud Files7 min read

Resolv USR Exploit: Why One Off-Chain Key Broke the Peg

Resolv’s $24M USR exploit was not a normal contract bug. It was a key-management failure that let one privileged signer print unbacked supply.

Marcus Bishop

Mar 28, 2026