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defi
Symbiosis's Bitcoin Bridge minted 46 billion syBTC from a 25-cent deposit. Real losses were about 9.97 BTC
On 11 September 2026 an attacker used two flaws in Symbiosis's native Bitcoin Bridge to mint about 46.1 billion unbacked syBTC from a 330-satoshi deposit. Symbiosis's post-mortem puts losses to liquidity providers and users at 9.97 BTC, about $770,000. The bridge is offline for a rewrite and audit.
Published 3h ago
defi
Unbacked mints: five 2026 incidents, one question the code forgot to ask
Liquid, NEAR Intents, Meter, Symbiosis and Payy failed in different ways this autumn. In each, the system created a claim on real money without checking that real money stood behind it. A look at the common pattern, drawn from the projects' own accounts, and the controls that would have limited it.
Published 3h ago