⚠️ $10.4 MILLION VANISHED WITH A FEW CLICKS
The StablR exploit wasn't a smart contract failure.
It was a governance failure.
Attackers reportedly exploited weak multisig controls to mint unbacked stablecoins without depositing the collateral that was supposed to back them.
In traditional finance, money creation is tightly controlled.
In crypto, a compromised admin key can become a printing press overnight.
The lesson is simple:
A stablecoin is only as secure as the system controlling issuance.
When access controls fail, "backed" can become unbacked in minutes.