StablR Stablecoins Depeg After Multisig Exploit Mints Millions in Fake Tokens

StablR suffered a security breach on Ethereum after attackers exploited a weak multisig wallet setup that required only one signature for approval. The attacker reportedly gained access to a key holder’s wallet, added malicious owners to the multisig, and minted about 8.35 million USDR and 4.5 million EURR tokens. The exploit caused both stablecoins to lose around 20% of their peg, while the attacker made an estimated $2.8 million. The incident highlights ongoing security risks tied to poorly configured crypto governance systems and private key management.