Bitcoin News
By Pankaj K
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The Bounty and What's Still Missing. Symbiosis is offering a 20% reward for the return of remaining stolen assets.
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A Pattern Across Cross-Chain Bridges. It's worth stepping back. Symbiosis isn't alone here.
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Symbiosis got hit. On September 11, an attacker found a flaw in the protocol's Bitcoin bridge and exploited it — prompting an immediate suspension of native Bitcoin routes and a…
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But the full picture is messier. Blockaid identified the core vulnerability inside the Symbiosis BridgeV2 contract on the BNB Chain.
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Other services kept running. EVM, TRON, and TON network operations weren't affected. Symbiosis rerouted Bitcoin trading through Chainflip and THORChain to keep some functionality…
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Symbiosis is offering a 20% reward for the return of remaining stolen assets. It's a fairly standard approach in DeFi incident response — give the attacker a clean exit with a…
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The compensation framework is being developed with liquidity providers. No specifics have been shared yet on how affected users will be made whole, or on what timeline.
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It's worth stepping back. Symbiosis isn't alone here. The Liquid incident followed a similar script — a hacker generated roughly 4,000 unbacked LBTC tokens and exchanged them for…
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More context: Symbiosis Recovers 15 BTC Post-Hack, Liquidity Providers Left in Limbo
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That gap between theoretical value and real financial gain keeps showing up. Attackers can mint billions in unbacked tokens but can't actually liquidate most of it without…
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Cross-chain bridges have been a persistent weak point across DeFi. They're complicated infrastructure, connecting different blockchains with different security models, and that…
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Symbiosis has processed over $10 billion in transactions since launching nearly five years ago.
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The multisig wallet holding the recovered 15 BTC is probably the cleanest part of the story right now. Funds secured, auditable, not going anywhere.
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Read also: Symbiosis Hacker Mints $46 Billion in Fake syBTC, Walks Away With $336K
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Symbiosis said it's continuing to work with affected providers and monitoring the situation closely. No date has been given for when the Bitcoin Bridge might come back online.
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