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StablR euro, dollar stablecoins depeg; key management failure, not smart contract bug

StablR-issued euro and dollar stablecoins lost their pegs after a hack, with private key theft cited as the likely cause. Blockchain security firm Blockaid said it detected an exploit targeting the issuer and that about $2.8 million has been drained so far. The attacker minted 8.35 million USDR and 4.5 million EURR after altering a weak 1-of-3 multisig setup. EURR and USDR later fell sharply, CoinGecko data showed.