Quick updates on USR / @ResolvLabs exploit:
- Exploiter mints 50M USR
- Sells it via metamask swap (farming the airdrop ofc)
- USR goes to 5c
- Protocol could snapshot everyones balances pre exploit as the exploiter didn't take any of the underlying funds
- LPs rekt as exploiter is able to dump into AMM pools
- Dola getting hit as a sideffect as its partially backed by USR / USR-DOLA LP
- Probably not a good idea to buy USR as the exploiter still has their minted USR and you'd be screwed if team refunds based on pre exploit snapshot
- Haven't seen any word from the resolv team but hopefully they're on it
- Shoutout @yieldsandmore for being all over this

Looks like @ResolvLabs got hit with a private key compromise
The transaction where an attacker swapped 100,000 USDC for 50,000,000 USR had an inflated rate, but is only callable by the SERVICE_ROLE
Off chain uses pyth but the price feeds were stable x.com/dcfgod/status/…
fluid founder saying resolv team saying RLP should be responsible
yikes, doubt the RLP people were considering something like this
docs say 'other adverse events' but still gonna be a tough one


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Disclaimer: The content above is only the author's opinion which does not represent any position of Followin, and is not intended as, and shall not be understood or construed as, investment advice from Followin.
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