Stablecoin issuer StablR hit by suspected $3M smart contract exploit: ZachXBT

European stablecoin issuer StablR may have suffered an exploit affecting two contracts linked to its EURR and USDR stablecoins, blockchain investigator ZachXBT flagged on Saturday through his official channel.

The attacker’s wallet was funded via Cross‑Chain Transfer Protocol on Noble. Losses are estimated to exceed $3 million so far.

StablR is a European stablecoin company headquartered in Malta. The firm issues EURR, which is pegged to the euro, and USDR, which is pegged to the US dollar. StablR says it is focused on a compliant and transparent stablecoin infrastructure for merchants, institutions, and payment networks.

The company raised €3.3 million in seed funding in 2023 with backing from Deribit, Maven 11, Theta Capital, Folkvang, and Blocktech. In 2024, Tether announced a strategic investment in the company as part of efforts to support regulated stablecoin growth in Europe.

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