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StablR stablecoin contracts potentially exploited for more than $3 million in EURR and USDR

StablR stablecoin contracts potentially exploited for more than $3 million in EURR and USDR

The suspected exploit could undermine trust in stablecoin security, impacting investor confidence and regulatory scrutiny in the sector.

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by Vivian Nguyen

Two contracts linked to European stablecoin issuer StablR’s EURR and USDR stablecoins may have been exploited, according to blockchain investigator ZachXBT, who flagged the incident on Saturday through his official channel.

The attacker’s wallet appears to have been funded via the Cross‑Chain Transfer Protocol (CCTP) on Noble, with estimated losses exceeding $10 million.

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StablR is a European stablecoin company headquartered in Malta. The firm issues EURR, which is pegged to the euro, and USDR, which is pegged to the US dollar. StablR says it is focused on a compliant and transparent stablecoin infrastructure for merchants, institutions, and payment networks.

The company raised €3.3 million in seed funding in 2023 with backing from Deribit, Maven 11, Theta Capital, Folkvang, and Blocktech. In 2024, Tether announced a strategic investment in the company as part of efforts to support regulated stablecoin growth in Europe.

This is a developing story. We’ll update as we learn more.

Disclosure: This article was edited by Vivian Nguyen. For more information on how we create and review content, see our Editorial Policy.
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StablR stablecoin contracts potentially exploited for more than $3 million in EURR and USDR

StablR stablecoin contracts potentially exploited for more than $3 million in EURR and USDR

The suspected exploit could undermine trust in stablecoin security, impacting investor confidence and regulatory scrutiny in the sector.

by Vivian Nguyen

Share

Add us on Google

Two contracts linked to European stablecoin issuer StablR’s EURR and USDR stablecoins may have been exploited, according to blockchain investigator ZachXBT, who flagged the incident on Saturday through his official channel.

The attacker’s wallet appears to have been funded via the Cross‑Chain Transfer Protocol (CCTP) on Noble, with estimated losses exceeding $10 million.

Advertisement

StablR is a European stablecoin company headquartered in Malta. The firm issues EURR, which is pegged to the euro, and USDR, which is pegged to the US dollar. StablR says it is focused on a compliant and transparent stablecoin infrastructure for merchants, institutions, and payment networks.

The company raised €3.3 million in seed funding in 2023 with backing from Deribit, Maven 11, Theta Capital, Folkvang, and Blocktech. In 2024, Tether announced a strategic investment in the company as part of efforts to support regulated stablecoin growth in Europe.

This is a developing story. We’ll update as we learn more.

Disclosure: This article was edited by Vivian Nguyen. For more information on how we create and review content, see our Editorial Policy.