USPD Protocol Under Attack: Hacker Mints 98 Million Tokens and Steals 232 stETH
BlockBeats News, December 5th, the decentralized stablecoin protocol USPD announced that it has encountered a severe security vulnerability. The attacker exploited the "CPIMP (Contract Proxy Inherit Proxy) Attack" technique to preemptively take over the proxy contract admin rights during the deployment phase. The attacker disguised as an audited version and lurked for months before initiating the attack, minting around 98 million USPD tokens and stealing about 232 stETH tokens.
The USPD team stated that this incident was not due to a smart contract logic flaw. They have reported the relevant addresses to major centralized exchanges to freeze the funds. They also mentioned that if the attacker returns 90% of the stolen assets, they can keep 10% as a bug bounty.
You may also like
The Impossible Triangle of DeFi Lending
Bitcoin ETF News: Why Bitcoin Is Falling Even After $2.43B ETF Inflows in April
Bitcoin ETF news today shows $2.43B in April inflows as institutions absorbed thousands of BTC, yet the price dropped from $79K to $76K. Traders are now watching whether the $80K resistance breaks or triggers another pullback.
What Is RWA in Crypto? Real-World Assets Explained (2026 Guide)
What Is RWA in Crypto?RWA stands for Real-World Assets — traditional financial assets like bonds, real estate, gold, and private credit that have been converted into blockchain tokens.
Revisiting RWA: Nearly 50,000 people's first on-chain transaction was not Bitcoin, but stock indices and crude oil
Altcoin Price Outlook 2026: The Rotation Is Coming — Just Not the Way You Think
Bitcoin dominance at 58%, Fear & Greed at 39. If you think altcoin season is dead, you're reading the wrong signals. Here's what the data actually says about what comes next.
Oracle: The Second Battlefield Behind the Prediction Market War
a16z's key bet: Kalshi's weekly trading volume approaches $3 billion, transitioning from "prediction games" to financial infrastructure, the market begins to price "uncertainty."
Morning Report | Galaxy Digital announces Q1 2026 financial report; Liquid completes $18 million Series A financing; Polymarket plans to bring major exchanges to the U.S
From a banned economist to the new CEO of Xinhua: Fu Peng has figured out the second half of traffic
Why Private Credit Became the First True Bridge from TradFi to DeFi
Senior cryptocurrency investor: Blockchain is showing a siphoning effect on capital
When traditional crypto derivatives start to subtract: Insights from Hyper Trade's products
My view on blockchain has changed
Will AI Agents use bank cards? Why can't Agentic Payment avoid stablecoins and blockchain?
Deconstructing 80 mainstream payment institutions and wallets worldwide
The MiCA Fast Track for Cryptocurrency Licenses: Why OKX and BVNK Choose Malta
a16z Crypto: Stablecoins are rebuilding the global financial infrastructure
ENI's RWA ambition: to create an enterprise-level BaaS platform that allows Web2 institutions to "go beyond just asset on-chain."
The Impossible Triangle of DeFi Lending
Bitcoin ETF News: Why Bitcoin Is Falling Even After $2.43B ETF Inflows in April
Bitcoin ETF news today shows $2.43B in April inflows as institutions absorbed thousands of BTC, yet the price dropped from $79K to $76K. Traders are now watching whether the $80K resistance breaks or triggers another pullback.
What Is RWA in Crypto? Real-World Assets Explained (2026 Guide)
What Is RWA in Crypto?RWA stands for Real-World Assets — traditional financial assets like bonds, real estate, gold, and private credit that have been converted into blockchain tokens.
Revisiting RWA: Nearly 50,000 people's first on-chain transaction was not Bitcoin, but stock indices and crude oil
Altcoin Price Outlook 2026: The Rotation Is Coming — Just Not the Way You Think
Bitcoin dominance at 58%, Fear & Greed at 39. If you think altcoin season is dead, you're reading the wrong signals. Here's what the data actually says about what comes next.
Oracle: The Second Battlefield Behind the Prediction Market War
Contents
Popular coins
Latest Crypto News
