Analysis suggests that StablR, a European stablecoin issuer, has been exposed to a hack resulting in over $10 million in damages. Yusuf, a UAE-based cryptocurrency influencer, cited analysis from blockchain security firm Blockaid, stating, "Vulnerabilities were exposed in two StablR-related smart contracts, leading to damages in their Euro-pegged stablecoin EURR and Dollar-pegged stablecoin USDR. StablR has already frozen millions of dollars in stolen funds, and both USDR and EURR stablecoins have observed de-pegging of over 20% (deviation from dollar and euro value)." StablR secured a private investment from Tether in December 2024.
