🚨@ResolvLabs exploited for ~$25.9M
On March 22, a compromised minting operator key enabled unauthorized USR minting.
~80M USR minted (~80% supply inflation)
Example tx (50M USR):
https://etherscan.io/tx/0xfe37f25efd67d0a4da4afe48509b258df48757b97810b28ce4c649658dc33743…
🧵 Breakdown

Twitter

MicroStrategy founder Michael Saylor asserts that Bitcoin has won the global narrative war, specifically naming BIP- […]
The article, "Michael Saylor Warns BIP-110 is the Biggest Threat to Bitcoin; Four-Year Cycle is Dead, Institutional Capital is the Real Protagonist," was first published on BlockTempo, the most influential blockchain ABMedia media.

Michael Saylor warns that BIP-110 is the biggest threat to Bitcoin; the four-year cycle is dead, and institutional capital is the real protagonist.

Bitcoin at Block – the Bitcoin project of Block , the company founded by Twitter co-founder Jack Dorsey – has just announced the launch of a free Bitcoin Faucet, marking the return of the Bitcoin distribution model...

Jack Dorsey announces a $1 million project to give away free Bitcoin.

Cryptocurrency has not failed; it has simply been targeting the wrong users over the past decade.

Zhou Hang, founder of Yidao Yongche: Cryptocurrency has finally reached its time to make its appearance.

Response:
Resolv governance Safe (4/6) initiated mitigation actions, including:
• Pausing minting
• Revoking the compromised role
These actions were executed several hours after the exploit began.
USR minting and redemption are currently paused.