Symbiosis Cyberattack Creates $46B in Fake Bitcoin Assets

A cyberattack on cross-chain protocol Symbiosis has resulted in the creation of approximately 46.1 billion fake syBTC tokens, valued at over $46 billion, after exploiting two vulnerabilities in its BridgeV2 contract code.

The attacker deposited just 330 satoshis ($0.25) to execute 12 irregular transactions across BNB Chain, Ethereum, and Rootstock in four minutes, generating the massive synthetic asset volume.

Symbiosis' post-mortem analysis reveals that a combination of two bugs allowed the contract to accept arbitrary deposit values without requiring equivalent collateral, as it processed negative fees as mathematical additions rather than subtractions.