TechFlow reports that on March 31, Ivan, co-founder of Resolv Labs, issued an update regarding the protocol security incident and subsequent recovery progress. It is understood that whitelisted USR users may redeem their tokens first, primarily because their wallets have already been verified; the Resolv team can manually process redemptions within 24 hours to mitigate risk, and 98% of such redemptions have now been completed. For non-whitelisted USR holders who held tokens prior to the vulnerability’s exploitation, Resolv has committed to honoring a 1:1 redemption ratio; however, the technical solution for these redemptions remains under finalization.
Regarding whether internal personnel were involved, Ivan stated that no evidence of internal participation has been found thus far. For USR holders, liquidity providers (LPs), and Resolv Liquidity Providers (RLPs) who acquired positions after the vulnerability was exploited, subsequent handling involves coordination across legal, technical, and ecosystem stakeholders; no single solution currently exists, and the full recovery plan does not yet have a definitive timeline. The team will complete it as soon as possible, proceeding with due caution.
Earlier reports indicated that the Resolve attacker used $200,000 worth of USDC to mint $80 million in USR.
