TREE NEWS update: Cross-chain protocol Symbiosis is under active attack on BNB Smart Chain, with the attacker using a signed BridgeV2 receive operation to mint roughly 2^62 raw units of syBTC — a nominal value of about $46.1 billion at 8 decimals — to a new address. The same beneficiary address then sold about 4.39 WBTC on Uniswap V4 on Ethereum, realizing roughly $336,000 in WBTC proceeds.
Symbiosis cross-chain protocol attacked on BSC, attacker cashes out ~$336K
The nominal mint dwarfing the realized proceeds is the tell: the exploit was capped not by the contract's limits but by the liquidity available to exit, so the headline figure overstates actual damage while understating how routine these bridge mint-and-dump patterns have become. For wrapped-BTC holders across chains, the takeaway is that a signed receive path on one chain can drain value on another entirely, making cross-chain solvency a shared risk rather than a per-network one. Whether the protocol pauses the affected contracts and how the syBTC supply is reconciled is the open question.
Generated by AI for reference only.
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