Hacker Extracts $24.5M From Resolv DeFi Platform via Compromised Private Key; USR Stablecoin Depegs 86%

An attacker exploited a compromised private key to mint 80 million unbacked USR stablecoins on the Resolv DeFi protocol, extracting approximately $24.5 million converted to 11,400 ETH. The token crashed 86% to $0.14 before partially recovering. Resolv Labs paused the protocol and announced restoration of redemptions for pre-incident holders. Q1 2026 DeFi losses now total $137M across 15 incidents, surpassing Q1 2025.