StablR stablecoins lose peg after $13.5 million multisig wallet exploit

StablR, a stablecoin issuer backed by Tether and Kraken, saw its EURR and USDR tokens lose their pegs after an attacker exploited a 1-of-3 multisig wallet and minted $13.5 million in unbacked tokens, The Block reported. EURR slid to $0.85, while USDR fell as low as $0.40. The attacker is said to have swapped more than $10 million of the tokens into ETH.