Fluid Releases Resolv Post-Incident Review: Approximately $19.3 Million Bad Debt Has Been Fully Shared, Ensuring the Security of All User Funds

BlockBeats News, May 12th, Fluid faced approximately $100 million in exposure to Resolv, resulting in around $21 million in defaults. The attacker exploited discounted wstUSR to borrow stablecoins using collateral on Fluid and then absconded, leaving behind the defaults. The Fluid smart contract remained uncompromised, and other markets operated normally, with an automatic circuit breaker effectively limiting the losses. The Fluid team paused the affected markets within hours and ensured no user funds were at risk. The team collaborated with Resolv to unwind the positions before the incident and repaid approximately $70 million in debt within two days after the event.

According to the agreed resolution, Resolv bears 50% of the losses incurred by the DEX liquidity providers before the incident. Out of the remaining approximately $19.3 million in defaults, Resolv shoulders around $9.7 million, the Fluid governance treasury covers $8.2 million, and the team takes on $1.5 million. All remaining USR tokens have been burned at the contract level. Fluid has suspended its buyback program, significantly reduced or canceled FLUID emissions, and the foundation will not claim the $250,000 monthly grant from March to June. Fluid states that its smart contract has never been compromised, has upgraded its oracle and pricing systems, and will introduce a legal protocol for asset issuance to establish enforceable rights claims.