Resolv protocol exploited for ~80M USR unbacked tokens; team issued recovery demand requiring 90% return of ~$25M in ETH within 72 hours or faces asset freezing and law enforcement escalation.
Security & Exploits ·
The Resolv protocol team issued an onchain recovery demand following an unauthorized exploitation that resulted in the minting of approximately 80M USR tokens without backing. An onchain message identified four addresses associated with the exploit and outlined that the unauthorized asset creation carried potential secondary market impact.
The team proposed a settlement requiring the return of 90% of converted funds—roughly $25M in ETH—to a designated recovery address within 72 hours, with the exploiter permitted to retain the remaining 10%. The proposal also demanded cessation of all further activity involving the exploited funds and transfer of all remaining USR under their control to the same address.
The team stated that failure to comply would trigger escalation measures including coordination with centralized exchanges and infrastructure providers to restrict or freeze assets, along with public disclosure. It remains unclear whether the exploiter addresses have responded to the demand, what fraction of the unbacked tokens remain in circulation, or whether the protocol intends to implement any technical mechanism to recover or burn the minted USR.