Resolv protocol was attacked due to a compromised off-chain signing private key. The attacker used a small USDC deposit to authorize the minting of approximately 80 million unbacked USR stablecoins, then dumped them and extracted roughly $25 million in value. The team promptly paused all contracts, burned some malicious tokens, and initiated a 1:1 redemption plan for pre-incident USR holders while cooperating with law enforcement and on-chain analytics firms for accountability.