StablR Stablecoins EURR and USDR Depeg After $10 Million Exploit

• •StablR's EURR and USDR stablecoins depegged after a $10 million exploit.
• •The attack was enabled by a compromised private key in a poorly secured multisig wallet.
• •The incident highlights critical governance failures in stablecoin management.

On May 24, 2026, StablR's stablecoins, EURR and USDR, lost their pegs following an exploit that allowed an attacker to mint approximately $10.4 million in unbacked tokens. The breach was attributed to a compromised private key within a multisig wallet that required only one of three signatures to authorize minting. The attacker gained administrative control, minted 8.35 million USDR and 4.5 million EURR, and subsequently sold the tokens on decentralized exchanges, realizing around $2.8 million due to thin liquidity. The incident has raised concerns about governance and key management practices within the stablecoin ecosystem. StablR acknowledged the exploit and is working to contain the impact, but the extent of recovery remains uncertain. As a result, EURR and USDR experienced significant price drops of over 20%.