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USR is not unbacked. You have a severe misunderstanding of the whole situation if you say that.
by Jommi 6mo ago
USR is not unbacked. You have a severe misunderstanding of the whole situation if you say that.
- oersted 6mo agoTo be fair, the article itself says "unbacked" right upfront: > an attacker was able to mint tens of millions of Resolv’s unbacked stablecoins (USR) and extract roughly $23 million in value
- gwd 6mo agoIf I understand the situation properly, the system is only supposed to mint backed stable-coins; the hack resulted in unbacked ones.