USPD Protocol Under Attack: Hacker Mints 98 Million Tokens and Steals 232 stETH

By: theblockbeats.news|2025/12/05 06:46:03

BlockBeats News, December 5th, the decentralized stablecoin protocol USPD announced that it has encountered a severe security vulnerability. The attacker exploited the "CPIMP (Contract Proxy Inherit Proxy) Attack" technique to preemptively take over the proxy contract admin rights during the deployment phase. The attacker disguised as an audited version and lurked for months before initiating the attack, minting around 98 million USPD tokens and stealing about 232 stETH tokens.

The USPD team stated that this incident was not due to a smart contract logic flaw. They have reported the relevant addresses to major centralized exchanges to freeze the funds. They also mentioned that if the attacker returns 90% of the stolen assets, they can keep 10% as a bug bounty.

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