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Is it serious to have issues with 1-of-3 multi-signatures? Is this design really reliable?
Attackers exploited a leak of one owner’s private key in a 1-of-3 multi-signature setup, gaining minting permissions and adding a new owner, replacing two legitimate owners, and minted approximately 8.35M USDR and 4.5 million EURR, causing the peg to deviate.
Blockaid points out that the root cause is the private key leak leading to abuse of minting access.
Market shows EURR at nearly $0.908, down over 21% in 24 hours, and USDR also below $1.