Historical bad-debt events

Fluid's assessment for RD-F-067 — scored yellow on the v1.7.0 rubric. The evidence below is the curator's reasoning for this score.

Evidence summary #

One confirmed bad debt event: March 2026, Resolv/wstUSR exploit. Fluid incurred >$10M bad debt in one day (source: BingX flash news, Halborn, Protos). Root cause: hardcoded oracle for wstUSR at $1.13 while spot traded at ~$0.63 post-Resolv exploit. Fluid covered bad debt externally via short-term loan (Cyber Fund, Jupiter) and fully repaid by March 25, 2026. No permanent depositor loss. One event in 14+ months of operation. Yellow (not red): bad debt was absorbed and repaid; no permanent loss socialized to depositors.

Sources #

URL
BingX — Resolv Exploit Mints USR; Fluid Bad DebtBingX flash news — Resolv exploit and Fluid bad debtretrieved 2026-04-29
URL
Halborn — Resolv Hack March 2026Halborn — Explained: The Resolv Hack March 2026retrieved 2026-04-29
URL
CoinDesk — Resolv Stablecoin 70% Drop March 2026CoinDesk — Resolv stablecoin crashes after exploitretrieved 2026-04-29

Methodology #

Count and sum (USD) the number of documented bad-debt events where the protocol socialized losses across depositors.

See the full factor methodology and distribution across all protocols →

rubric_version v1.7.0 protocol fluid factor RD-F-067 score yellow collected_at 2026-04-29 10:35:01