#Resupply Protocol Proposes Burning 6M #Tokens After $10M #DeFi Exploit


Resupply has unveiled a recovery plan to burn 6 million #reUSD tokens following this week's $10 million #exploit.


The attacker manipulated share prices in the crvUSD-wstUSR pair by exploiting oracle and exchange rate calculation flaws.


The #protocol paused the affected pair and blocked assets from leaving its insurance pool to protect remaining funds.


The treasury has already paid 2.86 million reUSD tokens, leaving 7.13 million in outstanding bad debt.


The burning proposal targets 6 million tokens from the insurance pool, representing 15.5% of the total pool holdings.


The remaining 1.13 million debt will be paid through future protocol fees and potential RSUP token sales.


Users affected by the insurance pool slashing will receive additional RSUP incentives to maintain deposits.


The proposal requires governance approval and would execute three days after voting concludes.

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June 30, 2025 at 10:55 AM
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