Solv Protocol reported a limited exploit that drained approximately $2.7 million from its Bitcoin yield vaults, primarily affecting less than 10 users. The incident involved the abuse of a double-minting flaw in a ‘BitcoinReserveOffering’ contract, allowing the attacker to convert 135 BRO tokens into 567 million BRO, which were then exchanged for around 38 SolvBTC. In response, Solv Protocol plans to cover the losses and has engaged with security firms like Hypernative Labs, SlowMist, and CertiK to investigate the breach and enhance security measures. The incident highlights ongoing vulnerabilities in decentralized finance (DeFi) amid the growing adoption of tokenized Bitcoin assets for yield generation.
Solv Protocol reports $2.7M exploit of Bitcoin yield vault, covers losses for affected users
