TREE NEWS update: Cross-chain protocol Symbiosis said two software flaws in its Bitcoin Bridge were combined in an exploit that let an attacker mint roughly 46.1 billion unbacked syBTC — over 2,000 times bitcoin’s 21 million supply cap. The attacker deposited only 330 satoshis, worth about $0.25, then completed 12 fake deposits across BNB Chain, Ethereum and Rootstock in about four minutes. Initial losses are estimated at about $770,000.
Symbiosis Bitcoin bridge exploit mints 46.1B unbacked syBTC, ~$770K lost
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AI take
The headline number is absurd, but the material point is operational: a bridge minted an asset far beyond the supply of the underlying it claims to represent, and the failure spanned three chains in minutes, which is a design and monitoring problem rather than a single bad transaction. Those exposed are users and integrators holding or accepting syBTC, not bitcoin itself. The open question is whether the protocol can isolate and burn the unbacked supply without touching legitimately backed tokens, and how other bridges treat mint limits and cross-chain deposit validation after this.
Generated by AI for reference only.
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