Two software bugs allowed the attacker to create more than 2,000 times Bitcoin’s maximum supply in unbacked syBTC. Symbiosis puts preliminary losses at 9.97 BTC.
- Two software flaws in Symbiosis’ Bitcoin Bridge allowed an attacker to turn a 330-satoshi deposit into about 46.1 billion unbacked syBTC tokens through 12 bogus deposits.
- The attacker exploited an error that granted administrator privileges and another that treated a negative fee as an addition, enabling arbitrary token creation.
- Symbiosis estimated losses at 9.97 BTC, pledged compensation and took the bridge offline for a rewrite and independent audit.
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The Definitive Stablecoin Landscape Series: Asia Pacific
As stablecoins move into regulated finance, APAC is becoming a key proving ground. This report maps the region’s rules, use cases, and RLUSD’s role.
Why it matters :
As stablecoins move into regulated finance, APAC is becoming a key proving ground. This report maps the region’s rules, use cases, and RLUSD’s role.
Once a $2 billion Ethereum layer-2, Blast is shutting down after assets plunge 98%
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