MiCA Compliant Euro Stablecoin Depegs to $0.85 After 1-of-3 Multisig Exploit Drains Millions

Malta-based stablecoin issuer StablR suffered a security incident on Sunday, after an attacker exploited a weak multisig configuration to mint millions of unbacked EURR and USDR tokens and dump them on decentralized exchange ( DEX) platforms.