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

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

An ongoing exploit is impacting StablR, resulting in the depeg of its Euro and USD stablecoins, while a compromised private key has been blamed, adding to a lengthening 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.

The suspected cause is a private key compromise of one owner in the minting multisignature account, which used a weak 1-of-3 threshold, stated Blockaid. 

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