StablR Stablecoin Faces Potential $10 Million Hack Risk
- Hack Incident: Cryptocurrency researcher ZachXBT revealed that two smart contracts linked to the European stablecoin issuer StablR may have been compromised, putting approximately $10 million worth of EURR and USDR stablecoins at risk, highlighting significant security vulnerabilities within the platform.
- Duration of Attack: ZachXBT noted that the attack continued for about three hours after the incident was announced, suggesting that the StablR team may have been unresponsive during this critical period, reflecting inadequacies in their emergency response mechanisms.
- Funds Freezing Actions: Following the incident, ZachXBT assisted in freezing an amount in the six figures, indicating that while some measures were taken, they were insufficient to fully mitigate the losses, showcasing a delayed response to the attack.
- Stablecoin Value Fluctuations: As a result of the attack, both EURR and USDR stablecoins experienced declines of over 20% against the dollar, with USDR reportedly regaining its peg to the dollar at the time of writing, while EURR has largely failed to maintain its peg to the euro, reflecting a severe loss of market confidence.
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Technical Analysis for MAJOR
Technical Sentiment Analysis for Major (MAJOR). As of , Major (MAJOR) is exhibiting a Neutral technical sentiment. Our proprietary analysis, which aggregates 7 technical signals, shows that 4 indicators are flashing buy, while 3 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status. Currently, the Relative Strength Index (RSI) for MAJOR stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the crypto.
Support, Resistance & Moving Averages. From a structural perspective, MAJOR is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
Major (MAJOR) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 0.0397 | 0.0488 | 0.0547 | 0.0638 | 0.0696 | 0.0787 | 0.0846 |
| Fibonacci | 0.0488 | 0.0545 | 0.0581 | 0.0638 | 0.0695 | 0.073 | 0.0787 |
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