This is a weird 'exploit'.
id=30, exploiter sends 100k USDC, mints 50m USR
id=31, random guy sends 100k USDC, mints ~100k USR
id=32, exploiter sends 100k USDC, mints ~100k USR
id=33, exploiter sends 100k USDC, mints 30m USR
Only a single SERVICE_ROLE that can fulfill these mint requests. There's no guardrails, no mint limit, it can freely choose what to mint. Insanity.
We also suspect this is Resolv's no KYC mint ("slippage free swap") they offered on their website early last year, and it was later removed from the frontend: x.com/ResolvLabs/status/188218...…
The options on what happened here to cause the abnormal mint are, based on what we can see:
- bad internal oracle (manipulated/compromised/etc.)
- insider job
- key compromise
twitter.com/yieldsandmore/stat...