2026-09-23 · record inc_0009 · updated 2026-10-19
Meter Passport: unbacked wrapped MTRG minted through the bridge
An attacker minted unbacked wrapped MTRG and sold part on PancakeSwap; Meter paused its chain and bridge.
Meter PassportMeter
BNB ChainComponent: Meter Passport bridge, block validation
- Event
- Independent analysis
- Root cause
- Unverified
- Loss
- Independent analysis
This record is not indexed by search engines: it does not yet have a root cause confirmed from a primary source.
Current status
Chain and bridge paused; no post-mortem located.
Timeline
- 2026-09-23 21:14 UTCMint begins, per reports.
Root cause
Meter calls it a block validation flaw. No technical post-mortem has been located.
Basis: unverified · not yet verified from a primary source
Classes: Bridge and cross-chain verification
Impact: loss and recovery
MTR and MTRG fell by more than 80% according to reports.
Reported loss
$2.3M
USD basis: Blockaid estimate, via media.
Recovered or returned
Unknown
No recovery reported as of late September.
Loss and recovery are separate figures. They are never netted, and amounts in different currencies are never added together.
Addresses and transactions
No addresses or transaction hashes have been verified for this record. We do not publish unverified hashes.
Public reproduction file
No public reproduction file is recorded for this incident.
Remediation and defensive indicators
- Chain and bridge paused; warning about transactions after block 100731417. (reported)
Defensive lessons from the class
- Add an independent solvency check outside the minting path.
- Cap mints and withdrawals per period.
Sources
Official statement
Meter: Statements as relayed by media: block validation flaw, chain and bridge paused
Published 2026-09-24 · retrieved 2026-10-19 · No primary copy located.
Independent analysis
Blockaid: First alert, about $2.3M unbacked mint
retrieved 2026-10-19
Media report
Protos: Three exploits in a single day
retrieved 2026-10-19
Media report
The Crypto Times: Meter Passport exploit reportedly mints $2.3M
retrieved 2026-10-19
Media report
PyramidLedger: Meter bridge mint bug
retrieved 2026-10-19
- UNCX Vesting V2: share records and token balance made to disagreeSame chain: BNB Chain
- Symbiosis Bitcoin Bridge: 46.1 billion unbacked syBTC from a 330-satoshi depositShared class: Bridge and cross-chain verification
Read the full written analysis
Method, uncertainty and corrections
Still unknown
- Technical cause
- Rollback decision
- Compensation
Where sources disagree
- Price drop quoted as more than 80% or 88%.
Written by ThreatWire editorial. Facts attributed to the sources listed; figures are estimates and not independently verified unless marked on-chain. Published 2026-10-19, last updated 2026-10-19. Figures are estimates from public post-mortems and named analysts; not independently verified unless marked as confirmed on-chain.
No corrections recorded since publication.