StablR’s MiCA-Positioned EURR Slides to $0.85 After 1-of-3 Multisig Key Compromise

StablR said it identified an exploit on Sunday after an attacker used control of a 1-of-3 multisig setup to mint unbacked EURR and USDR and sell them on DEX markets. On May 24, EURR fell to $0.85 while USDR traded around $0.64 after touching $0.40, with onchain estimates citing about 1,115 ETH (about $2.8 million) extracted and as much as $10.4 million in unbacked issuance.