Re7 Labs releases update on xUSD depegging incident, has hired a law firm to pursue legal action and asset recovery

ChainCatcher news, Re7 Labs has released an update on the xUSD depegging incident, stating that it has engaged the law firm Pillsbury Winthrop Shaw Pittman to investigate the situation and provide advice on formal legal options, including asset recovery. Previously, Re7 Labs had contacted Stream Finance and Stables Labs multiple times but did not receive satisfactory responses. The lawyers have now sent legal notices to the relevant parties, demanding repayment and preservation of evidence. Currently, the Morpho Worldchain sdeUSD position has been fully restored, and the treasury risk exposure has been reduced by more than 50%.