Resolv's USR Hack Shows Why 'Fully Backed' Stablecoins Still Break
ยท 8 min read
Resolv's pitch was simple: USR was supposed to be a crypto-backed stablecoin with a delta-neutral design, a separate risk-absorbing layer, and a collateral pool meant to keep the dollar peg credible.
Then on March 22, 2026, an attacker showed the market something more important than the collateral story: if your issuance layer can be broken, your backing story stops mattering almost instantly.