The USPD protocol official today issued an emergency security alert confirming that its protocol suffered a serious security bugs attack, resulting in unauthorized token minting and liquidity depletion. The attacker used an advanced attack method called "CPIMP" (secret proxy in the middle of the proxy) to preemptively perform proxy initialization during deployment on September 16 and obtain hidden administrator privileges. By installing "shadow" and manipulating the event data, the attacker successfully circumvented verification tools including Etherscan, and hid for several months. Today, he used the privileges to mint about 98 million USPDs and steal about 232 stETH.
The USPD team has worked with law enforcement and security organizations to flag attacker addresses to freeze funds, and has offered to treat the incident as a white hat rescue, with the return of 90% of the funds halting law enforcement operations.
Stablecoin protocol USPD suffered major security bugs, losing about $1 million
2025-12-05 06:31:56
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