I was monitoring the operations of this Resolve attacker and the sequence was quite interesting. The guy started minting 50 million USR using only 100K USDC as collateral – basically exploiting a vulnerability in the protocol. Then he converted 35 million of that USR into wstUSR, probably to try to bypass tracking.

The most aggressive move came afterward: he kept swapping wstUSR for USDC and USDT continuously, like trying to distribute liquidity. In the end, he managed to accumulate a lot of USDT and moved to Ethereum, buying about 4.55 million in ETH. All of this happened in March, and it was really quick.

What caught attention was how the attacker moved everything in such a coordinated way – it seemed very planned. These smart contract attacks clearly show how important it is to audit thoroughly before launching. Anyway, it’s an interesting case study on how to exploit design flaws in protocols, especially when it involves minting without proper limits.