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🚨 SYMBIOSIS RECOVERS 15 BTC FROM THE BRIDGE EXPLOIT. 💀
💰 Recovered: 15 BTC
💵 Value: ~1.1 million USD
🎯 Bounty: 20% for tips that help recover the assets
⛔ Bitcoin Bridge: Still paused

Symbiosis says it has recovered 15 BTC, worth about $1.1 million, related to a vulnerability in the protocol’s Bitcoin Bridge. This BTC has been moved to a multisig wallet controlled by the team.

The vulnerability occurred last Friday. The attacker exploited a flaw in the protocol to mint 46.1 billion unbacked tokens, thereby effectively stealing about 4.3 WBTC, worth roughly $336,000.

Earlier, Symbiosis offered a white-hat bounty of 20% if the attacker returned the assets. However, the deadline has passed without any response.

Now, the protocol has switched to paying a 20% bounty to anyone who provides clues to help track down and recover the assets.

Symbiosis also commits to publishing a compensation plan for affected liquidity providers.

Notably, the Bitcoin Bridge function is still suspended.

💀 15 BTC RECOVERED. THE BRIDGE IS STILL DOWN.
Recovering 15 BTC is a positive sign, but the incident is not over yet. The ability to recover the remaining assets and the compensation approach for LPs will be key factors to monitor going forward.

👀 White-hat recovery, or is there still more BTC to find?

#SymbiosisFinance #SIS #BTC #defi #BridgeExploit $BTC