Resolv’s stablecoin USR decoupled following an apparent smart contract exploit on Sunday that allowed an attacker to create 80 million USR tokens and transfer them to decentralized exchanges, as noted by onchain analysts Ai Yi (@ai_9684xtpa) and PeckShield.
.@ResolvLabs It appears that several large quantities of US$ were hit. Stay vigilant!
$50 million: https://t.co/gDrTBJDkax
$30 million: pic.twitter.com/0F7JZrKR4V– PeckShieldAlert (@PeckShieldAlert) March 22, 2026
USR was quickly destabilized, falling as low as $0.2 before recovering to around $0.8, according to CoinGecko.
In a statement, Resolv Labs, the lead developer of the Resolv protocol, said it had temporarily halted operations following the exploit. The team is investigating and taking measures to contain the situation.
Resolv experienced an exploit that allowed attackers to create 50 mins of unsupported USR.
The team has currently suspended all protocol functions to prevent further malicious actions and is actively working on recovery.
– Resolv Laboratories (@ResolvLabs) March 22, 2026
USR is a 1:1 dollar-pegged stablecoin built by Resolv to operate entirely on-chain. Rather than holding fiat reserves, it maintains its value using over-collateralized crypto assets such as ETH, staked Ethereum, and Bitcoin.
RESOLV, the protocol’s native token used for governance and value capture, fell 6% to $0.054 on the news.
