- Solv Protocol confirmed a limited exploit in one of its BRO vaults, impacting fewer than 10 users.
- The attacker extracted approximately 38.0474 SolvBTC, worth several million dollars.
- Solv Protocol stated that all other vaults and user funds remain secure while investigations continue.
Bitcoin-focused DeFi platform Solv Protocol confirmed a limited exploit inside one of its Bitcoin Reserve Offering (BRO) vaults. The incident affected fewer than 10 users and involved 38.0474 SolvBTC.
At the time of the attack, the stolen amount carried an estimated value of nearly $2.7 million. Solv Protocol stated that it will cover the full loss for all affected users.
The team also said that the incident remained limited to a single vault. Other vaults and user balances across the platform remain secure.
Smart Contract Flaw Enabled Token Mint
Security researchers traced the exploit to a flaw inside the BRO smart contract. The attacker abused a double‑mint vulnerability that allowed the creation of large amounts of BRO tokens.
The attacker triggered the vulnerability 22 times. During the attack, 135 BRO expanded into roughly 567 million BRO tokens.
These tokens were then swapped for about 38 SolvBTC. Blockchain data shows that the funds left the vault after the token exchange.
Some researchers also classified the issue as a re‑entrancy style exploit, where unexpected contract inputs expose weaknesses in smart‑contract logic.
Security Firms Join Investigation
Solv Protocol began the investigation with several blockchain security firms. The firms involved include Hypernative Labs, SlowMist, and CertiK.
The protocol said it has already applied measures designed to block similar attack paths. The team also confirmed that no other vault products show signs of compromise.
The protocol offered the exploiter a 10% white‑hat bounty if the funds returned to the project. The team also shared an on‑chain contact address to open communication with the attacker.
SolvBTC Remains Core Product
Solv Protocol focuses on Bitcoin‑based decentralized finance. The platform allows users to deposit Bitcoin and receive SolvBTC, a token that allows BTC to move across lending, staking, and yield strategies.
According to DefiLlama data, SolvBTC holds more than $508 million in total value locked. The platform reports a reserve balance of 24,226 BTC, worth more than $1.7 billion.
Related: CrossCurve Bridge Exploited for $3M After Spoofed Cross-Chain Messages
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