USPD Protocol Attacked, 98M Tokens Minted and 232 stETH Stolen

Decentralized stablecoin protocol USPD disclosed on Dec. 5 that an attacker minted approximately 98 million USPD tokens and stole approximately 232 stETH. The attacker allegedly used a "CPIMP (proxy intermediate hidden proxy)" technique to seize proxy contract admin privileges during deployment, disguised the contract as an audited version, and remained dormant for months before executing the attack. The USPD team said the incident was not due to smart contract logic flaws and has reported related addresses to major centralized exchanges to freeze funds, offering the attacker a 10% bounty if 90% of stolen assets are returned.