Resolv Foundation announces recovery plan after security incident

The Resolv Foundation has announced its recovery plan following a protocol security incident. According to the foundation, USR and wstUSR held based on a pre-incident snapshot can be exchanged for USDC at a 1:1 ratio. However, tokens acquired after the incident will be exchanged at a 1:0.5 ratio. The foundation also stated that RLP holders will receive 0.71 USDC per token and will be allocated additional RESOLV tokens at a value of $0.03 each. CoinNess previously reported that a hack at Resolv Labs led to the infinite minting of 80 million USR, resulting in a loss of $25 million.