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Crypto DeFi

Symbiosis cross-chain protocol attacked on BSC, attacker cashes out about $336K

Cross-chain protocol Symbiosis is under an ongoing attack on BNB Smart Chain, with the attacker using a signed BridgeV2 receive operation to mint roughly 2^62 raw units of syBTC to a new address, a nominal value of about $46.1 billion at 8 decimals. The same beneficiary address then sold about 4.39 WBTC on Uniswap V4 on Ethereum, realizing roughly $336,000 in WBTC proceeds.

Original source

AI take

The gap between the nominal syBTC minted and the roughly $336K actually realized in WBTC sales underscores a familiar pattern in bridge exploits: the ability to mint an arbitrary token does not translate into extracting equivalent value, because liquidity — not the mint — sets the ceiling. That distinction matters for how the damage is assessed, since the headline figure is not the loss figure. What remains open is whether the attack is contained to this single signed receive path or reflects a broader flaw in BridgeV2, and whether the affected syBTC liquidity is isolated from the rest of the protocol's cross-chain routes.

Generated by AI for reference only.

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