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Symbiosis Bridge Hack Sparks Synthetic Bitcoin Concerns After $336K Exploit

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The Story

News Summary

  • The Symbiosis Bitcoin Bridge suffered an exploit allowing an attacker to mint 46.1 billion unbacked syBTC tokens, resulting in approximately $336,000 in actual losses.
  • Bridge operations were halted and 15 BTC recovered, highlighting persistent security risks across cross-chain bridge infrastructure.
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