The Resupply stablecoin protocol has proposed to burn 6 million reUSD from the insurance fund as part of the plan to recover from the 10 million USD exploitation earlier this week.
The attacker manipulated the exchange rate of the crvUSD-wstUSR pair to bypass the payment capability check of the protocol, exploiting a vulnerability in the oracle system and the way the exchange rate is calculated.
After the incident, Resupply temporarily suspended the affected pair and temporarily locked the insurance fund to protect lenders. Approximately 2.86 million reUSD has been spent from the treasury, with 7.13 million reUSD remaining in bad debt.
The current plan proposes to burn 6 million reUSD — equivalent to 15.5% of the insurance fund — the remainder will be gradually handled by the DAO through revenue or the OTC sale of RSUP tokens.
If approved, the proposal will take effect after three days. Resupply also plans to retain affected users with additional RSUP rewards after the token burn.
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