Resolv Sets Payout Plan After $25 Million USR Minting Exploit

Resolv is a decentralized-finance protocol whose USR token is designed as a dollar-pegged, yield-bearing asset backed by crypto collateral and delta-neutral trading strategies. Its RLP token serves as a junior, first-loss layer intended to protect USR. The episode matters beyond token holders because USR and related assets had been integrated into lending markets, exposing how a failure in minting controls can spread losses and liquidity stress across DeFi platforms.

On March 22, an attacker used roughly 200,000 USDC to mint 80 million unbacked USR after compromising a private key, then converted proceeds into about $25 million of ETH. USR fell more than 70%, prompting Resolv to halt the protocol and Venus Protocol to pause its USR market. On May 26, Resolv unveiled recovery terms: pre-incident USR holders can redeem at 1:1 for USDC, while RLP holders receive 0.71 USDC and 2.71 RESOLV per token; claims remain open through Aug. 26, 2026.