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BTC $74,914.11 -0.11%
ETH $2,330.77 -1.03%
BNB $628.48 +0.59%
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SOL $87.97 +2.97%
TRX $0.3259 +0.02%
DOGE $0.0975 +0.97%
ADA $0.2547 +1.84%
BCH $449.91 +1.48%
LINK $9.42 +1.42%
HYPE $43.79 -3.92%
AAVE $113.32 +6.53%
SUI $0.9820 +0.24%
XLM $0.1661 +3.54%
ZEC $332.19 -3.36%

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Resolv Labs: 9 million illegally minted USR have been destroyed, do not trade related tokens during the implementation of recovery measures

Resolv Labs issued an update regarding a security incident, stating that a malicious attacker illegally accessed Resolv's infrastructure through a stolen private key and minted approximately $80 million worth of uncollateralized USR. The relevant smart contracts have been quickly paused, and approximately 9 million USR held by the attacker have been destroyed to mitigate potential impact.Currently, the protocol holds about $141 million in assets, with the confirmed actual impact being only about $500,000 in redemptions processed before the pause. The current USR supply consists of approximately 102 million tokens before the incident and about 71 million newly minted illegal tokens. As the first step towards recovery, Resolv plans to allow redemptions of pre-incident USR starting from March 23, 2026, for whitelisted users. Affected users should coordinate directly with RDAL through official channels.The announcement stated that the incident stemmed from unauthorized actions by a third party, including targeted infrastructure attacks. Resolv's underlying collateral has not been directly compromised. The team is tracking and attempting to control the illegally minted USR and other affected assets, coordinating with partners and counterparties, and working with law enforcement and on-chain analysis companies to trace the responsible parties. Resolv strongly advises against trading USR or related Resolv tokens during the implementation of recovery measures, as user trading behavior after the incident may affect the recovery process.

Canadian residents fall victim to a cryptocurrency scam, with fraudsters using the Royal Canadian Mounted Police's insignia to carry out secondary fraud

A resident of Nanaimo, Canada, fell victim to a scam after receiving a text message promoting remote stock trading jobs and depositing about CAD 5,000 (approximately USD 3,600) through a cryptocurrency ATM at the end of last year. Earlier this year, the victim saw a message online disguised as an RCMP announcement encouraging fraud victims to report their cases.After submitting a form, a person claiming to be a lawyer called, stating that they had found two cryptocurrency accounts related to the victim and could help recover about USD 60,000 in so-called profits. Gary O'Brien, a media relations officer with the Nanaimo RCMP, stated that the RCMP does not contact individuals regarding discovered cryptocurrency accounts, does not collaborate with private companies to recover lost funds, and does not request any form of payment to investigate fraud.Andy Zhou, co-founder and CEO of blockchain security company BlockSec, stated that such tactics are known as "false recovery service scams" and have systematic characteristics. Scammers often possess victim information collected from the original scam, and organized fraud rings circulate lists of previously remitted victims, making these individuals targets for secondary scams.The effectiveness of impersonating law enforcement brands lies in exploiting the psychological mechanism of "authority bias." Canadian police have been conducting cryptocurrency investigation training since 2022.
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