Symbiosis Recovers $1.1M from Bridge Hack, Offers New Bounty

Crypto bridge exploit victim Symbiosis has recovered some funds. The protocol said it secured 15 BTC, worth around $1.1 million, from a Bitcoin bridge hack that happened on Friday.

The attack targeted Symbiosis' native Bitcoin bridge and affected its liquidity providers. According to Blockaid, the attacker's address minted 46.1 billion unbacked tokens but only realized net proceeds of 4.3 Wrapped BTC (WBTC), worth $336,000.

Symbiosis has offered a 20% bounty for information that leads to further asset recovery and will provide a compensation framework for affected liquidity providers. A previous white-hat bounty offer expired on Sunday without success.