Re7 Labs announced that wallets affected by the March 23 exploit of Resolv Labs’ USR stablecoin can now claim a portion of a 223,000 USDC compensation pool. The payout resolves one of the smaller liabilities that the curator incurred after the incident.
Eligibility and Claim Procedure
Re7 Labs limited eligibility to users whose positions in the Re7 USDC Base vault on Base and the Re7 USDC Core Mainnet vault on Ethereum were captured by the exploit. The snapshot recorded wallet balances at the moment Re7 removed the compromised USR markets, and investors can connect to the Merkl app to view and claim their pro‑rata share.
Background of the Resolv Labs Attack
On March 23, an attacker breached Resolv Labs’ AWS‑hosted key management service and generated 80 million USR tokens while supplying under $200,000 in collateral. The malicious actor exchanged the unbacked USR through staked derivatives into USDC and then Ether, walking away with approximately $23 million worth of ETH. Following the breach, USR’s price fell from its $1 peg to a low near $0.20, and CoinGecko data shows the token continues trading well below parity.
Re7 Labs curates lending vaults on platforms such as Morpho Blue and Euler, setting collateral parameters without