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Multi-signature to single-signature change, the 1/3 signature mechanism is such a ridiculous design.
Blockchain security company Blockaid said the attacker appears to have gained control by obtaining the private key of one owner in the minting multi-signature account, replacing other administrators under a mechanism requiring only 1/3 signatures, and additionally minting 8.35 million USDR and 4.5 million EURR.
Subsequently, the attacker exchanged tokens worth approximately $10.4 million on a DEX for about 1,115 ETH, with actual profits of approximately $2.8 million. Affected by the incident, EURR briefly fell to around $0.88, and USDR dropped to around $0.7.
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