🚨 Symbiosis Bitcoin Bridge Exploited: Trillions in Fake syBTC Minted
Cross-chain protocol Symbiosis has paused its native Bitcoin Bridge following a major exploit on September 11. An attacker exploited a vulnerability in the BridgeV2 system to mint 2^62 units of syBTC, a synthetic version of Bitcoin, on the BNB Chain.
Security firm Blockaid reports the attacker has already converted some assets, realizing approximately $336,000 in WBTC on Ethereum. Symbiosis confirmed it has recovered 15 BTC so far, which is currently secured in a team-controlled multisig wallet.
While the native bridge remains offline, Bitcoin swaps via partners Chainflip and THORChain are operational. Other routes on EVM chains, TRON, and TON were not affected by the breach.
#Symbiosis #BitcoinBridge #CryptoHack #DeFi
Cross-chain protocol Symbiosis has paused its native Bitcoin Bridge following a major exploit on September 11. An attacker exploited a vulnerability in the BridgeV2 system to mint 2^62 units of syBTC, a synthetic version of Bitcoin, on the BNB Chain.
Security firm Blockaid reports the attacker has already converted some assets, realizing approximately $336,000 in WBTC on Ethereum. Symbiosis confirmed it has recovered 15 BTC so far, which is currently secured in a team-controlled multisig wallet.
While the native bridge remains offline, Bitcoin swaps via partners Chainflip and THORChain are operational. Other routes on EVM chains, TRON, and TON were not affected by the breach.
#Symbiosis #BitcoinBridge #CryptoHack #DeFi