Decentralized stablecoin USPD suffers $1M exploit

The decentralized, permissionless stablecoin protocol USPD has reported a $1 million loss following an exploit. An investigation found that the attacker gained administrator privileges and used them to replace the system with malicious code to steal the funds. USPD stated that it is working closely with law enforcement and white-hat hackers and plans to halt legal action if the attacker returns 90% of the funds, keeping the remaining 10% as a bug bounty.