Crypto
Symbiosis Bridge Exploited: Attacker Mints 368.9 Billion Synthetic Bitcoin
A cross-chain liquidity protocol called Symbiosis was exploited on September 11, allowing an attacker to mint an enormous quantity of syBTC, a synthetic Bitcoin token.
The exploit used signed BridgeV2 transactions to create around 46-48 billion syBTC, which undermines trust in 1:1 Bitcoin peg models across multiple blockchains.
A separate alert from DefraudTG reported the attacker minted approximately 368.9 billion syBTC across Ethereum and BNB Chain after eight bridge transactions.