StablR Euro
EURR
Evaluation Score
Overall rating on a scale of 0-10
Dimension Breakdown
AI Analysis
Comprehensive evaluation of the token
EURR (StablR Euro) is a MiCA-regulated euro stablecoin issued by Malta-based StablR Ltd. While the project initially demonstrated institutional backing (investments from Kraken and Deribit) and deployment expansions, its fundamental viability has been severely compromised by a critical security failure. On May 24–25, 2026, the issuer experienced a multisig key compromise that allowed an attacker to mint unbacked tokens and dump them on decentralized exchanges. Specifically: 'On May 24–25, 2026, StablR disclosed a cybersecurity exploit affecting both EURR and its sister token USDR. Per Cointelegraph and Blockaid's analysis, the root cause was a compromise of a private key on the minting multisignature wallet, which was reportedly configured with a dangerously weak 1-of-3 threshold (GoPlus Security).' This incident triggered a catastrophic depeg (with EURR dropping as low as $0.548), a breach of MiCA 1:1 backing requirements, and a prolonged freeze on minting and redemptions through at least late July 2026. The qualifying red-flag event caps the maximum allowable score at 5.0; the mathematically calculated weighted average of 3.4 reflects the severe operational, financial, and peg impairment of the asset.
Development Activity
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Community Support
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Tokenomics
Supply, distribution, and utility
Market & Use Case
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Team & Governance
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Security & Audits
Security history and audit status
About StablR Euro (EURR)
EURR (StablR Euro) is an ERC-20 euro-pegged electronic money token issued by Malta-based StablR Ltd. Authorized as a financial institution by the Malta Financial Services Authority (MFSA) under the Markets in Crypto-Assets (MiCA) regulatory framework, the project was created to provide a fiat-backed digital euro for institutional and business-to-business settlements. StablR Ltd. is led by Founder and CEO Gijs op de Weegh and received institutional backing from entities such as Kraken and Deribit, with operational deployments extending to Ethereum and the Concordium network.
The token operates through a centralized mint-and-burn mechanism intended to maintain a 1:1 peg with the euro via verified fiat reserves. Governance and contract controls are managed centrally by the issuer using upgradeable smart contracts without a decentralized autonomous organization (DAO) or community voting framework. EURR also shares its ticker symbol with a stablecoin issued by Revolut, leading to market ticker collisions.
In late May 2026, StablR suffered a major cybersecurity exploit involving the compromise of a private key on its minting multisignature wallet, which utilized a 1-of-3 signature threshold. The attacker minted approximately 4.5 million unbacked EURR and 8.35 million USDR (totaling roughly $13.5 million in unauthorized tokens) and extracted approximately $2.8 million through decentralized exchange liquidity pools. This incident caused EURR to suffer a severe depeg, falling from its peg to as low as $0.548. Following the exploit, StablR acknowledged that the circulating supply was no longer fully backed at the required 1:1 ratio, initiated incident notifications with the MFSA under MiCA and DORA rules, and instituted a prolonged suspension of minting and redemptions extending through at least late July 2026.