Resolv Security Breach Update: Attacker Converts Funds into ETH Worth $4.55M

Attacker Executes Multi-Stage Asset Conversion

On-chain analysis reveals that since March 22, addresses linked to the Resolv incident have carried out a series of complex transactions. The attacker initially leveraged 100,000 USDC to mint 50 million USR tokens, indicating a leveraged exploitation strategy.

Of these, 35 million USR were swiftly converted into wstUSR, entering the derivative liquidity ecosystem.

Stablecoin Swaps and ETH Accumulation Underway

• The attacker is progressively swapping wstUSR holdings into USDC and USDT for obfuscation
• Acquired USDT has already been used to purchase ETH via decentralized exchanges
• ETH accumulation now totals $4.55 million in value

This pattern suggests an effort to convert illicit proceeds into more liquid and concealable assets, complicating tracking efforts. The involved addresses remain active, warranting continued monitoring.