StablR Euro

StablR's euro token no longer trades reliably at one euro. Issued by a Malta-based firm that held an MFSA e-money license and counted Tether as an equity backer from late 2024, EURR was marketed as fully MiCA-compliant. That claim broke in May 2026, when an attacker exploited the issuer's multisig controls and minted roughly 13.5 million dollars of unbacked EURR and its dollar sibling USDR. Both coins depegged sharply, EURR falling toward 0.85 euro as the market realised the circulating supply was no longer backed one-for-one as MiCA requires. StablR froze minting and redemption and activated a formal recovery plan, but the token is treated here as defunct: holders cannot count on redeeming at par, and its regulated status was compromised by the breach. A license, the episode shows, is not the same as sound custody of the keys that mint it.