A vulnerability in StablR's 1-of-3 multisig wallet allowed an attacker to compromise a single private key and mint $13.5 million worth of unbacked USDR and EURR tokens, ultimately extracting $2.8 million in real value before the breach was detected. StablR responded by freezing both stablecoins to prevent further damage and contain the exploit. The incident highlights persistent security risks in multisig configurations where a low signing threshold can serve as a single point of failure. Multisig wallets are widely used in crypto projects to distribute control, but a 1-of-3 setup requires only one compromised key to authorize transactions, offering limited protection against targeted attacks. StablR has not yet publicly detailed its remediation plan or timeline for restoring normal operations.
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