Resolv gives hacker 72 hours to return stolen $25 million
Resolv Labs has offered the attacker to return most of the stolen funds following a $25 million exploit. The company gave a 72-hour deadline to comply with the terms.
If accepted, the exploiter can keep 10% of the funds as a “bounty,” according to an onchain message.
The attack occurred on March 22. The attacker minted around 80 million unbacked USR tokens and extracted approximately $25 million. The funds were then swapped through decentralized exchanges and converted into 11,409 ETH.
The exploit was caused by a contract vulnerability that allowed unlimited token minting without proper checks.
Resolv said that if the funds are not returned, it will coordinate with exchanges, analytics firms, and law enforcement. The company also plans to disclose wallet addresses and attempt to freeze assets through infrastructure providers.
Separately, the company offered a “white hat” option — if the hacker proves that he was acting as a security researcher.
What it means for users
Following the incident, Resolv enabled withdrawals for some users who held tokens before the attack. Updates for other users are expected later. The case shows that even stablecoins can lose stability due to technical flaws.Such exploits are often linked to smart contract vulnerabilities or insufficient controls. In this case, the issue stemmed from excessive privileges tied to a single wallet.
The lack of multisignature controls, mint limits, and validation checks creates systemic risks. While the market is moving toward stronger security models, exploits remain part of the ecosystem.
Regulatory pressure is also building. FATF has previously warned about the risks of using stablecoins in illicit activities, particularly through transfers via unhosted wallets. Such transactions can bypass traditional financial monitoring mechanisms. As cross-border stablecoin payments grow, regulators are increasingly calling for tighter rules and stronger oversight.
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