Euler Labs Responds to Unauthorized USR Minting Incident

Euler Labs has acknowledged a security incident involving the unauthorized issuance of USR, as reported by Resolv. In response, the company has disabled the RLP collateral functionality in the Euler Yield vault on Arbitrum and halted fund allocation to Euler Earn USDC (Arbitrum). The team is currently investigating the incident to assess its impact and isolate potential risk exposure. Further updates will be provided as more information becomes available. The incident raises concerns about the security of the Euler platform and its collateral management practices.

Key Points: • Euler Labs disabled RLP collateral functionality due to unauthorized USR issuance. • The incident was reported by Resolv and is under active investigation. • Funds allocation to Euler Earn USDC has been halted as a precautionary measure.