{"id":64964,"date":"2026-03-06T08:57:11","date_gmt":"2026-03-06T05:57:11","guid":{"rendered":"https:\/\/coinengineer.net\/blog\/?p=64964"},"modified":"2026-03-06T08:57:11","modified_gmt":"2026-03-06T05:57:11","slug":"bitcoin-defi-platform-hacked-out-of-2-7-million","status":"publish","type":"post","link":"https:\/\/coinengineer.net\/blog\/bitcoin-defi-platform-hacked-out-of-2-7-million\/","title":{"rendered":"Bitcoin DeFi Platform Hacked Out of $2.7 Million!"},"content":{"rendered":"

Bitcoin-based DeFi<\/strong> platform Solv Protocol<\/strong> has confirmed that a security vulnerability in one of its vaults led to a loss of approximately $2.7 million worth of SolvBTC<\/a>. While the incident affected only a limited number of users, the platform\u2019s native asset SOLV token did not experience any significant price disruption.<\/p>\n

Initial findings indicate that the exploit originated from the mint mechanism of a specific smart contract. The protocol team emphasized that other vaults and user assets were not affected, suggesting the vulnerability was isolated to a single component of the system.<\/p>\n

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Table of Contents<\/p>\nToggle<\/span><\/path><\/svg><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n

  • How Did the Attack Happen?<\/a><\/li>
  • Number of Affected Users Remains Limited<\/a><\/li>
  • 10% Bounty Offered to the Hacker<\/a><\/li>
  • Bitcoin DeFi Ecosystem Expands While Risks Grow<\/a><\/li>
  • Crypto Attacks Continue to Reach Record Levels<\/a><\/li><\/ul><\/nav><\/div>\n

    <\/span>How Did the Attack Happen?<\/span><\/h2>\n

    The incident centered around one of the protocol\u2019s BRO vaults. According to early analysis from security researchers, the attacker manipulated the token minting process through a vulnerability in the BitcoinReserveOffering contract.<\/p>\n

    The situation itself was rather unusual.<\/p>\n

    Decurity\u2019s automated monitoring bot detected that the attacker exploited a double mint vulnerability in the contract 22 consecutive times. Within just a few transactions, the exploit unfolded as follows:<\/p>\n

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    • The attacker initially minted 135 BRO tokens<\/li>\n
    • Using the vulnerability, this amount was inflated to 567 million BRO tokens<\/li>\n
    • The attacker then swapped these tokens on the market for approximately 38 SolvBTC<\/li>\n
    • As a result, the total loss was estimated at around $2.7 million.<\/li>\n<\/ul>\n

      Some security researchers have also classified the mechanism as a re-entrancy attack, a common type of exploit where unexpected callbacks in smart contracts allow attackers to manipulate token minting or asset withdrawal processes.<\/p>\n

      <\/span>Number of Affected Users Remains Limited<\/span><\/h2>\n

      According to information shared by the protocol team, fewer than ten users were affected by the incident.<\/p>\n

      More importantly, Solv Protocol stated that it will fully cover the loss of 38.05 SolvBTC on behalf of affected users.<\/p>\n

      The team highlighted three key points:<\/p>\n

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      • The vulnerability impacted only a single vault<\/li>\n
      • All other vaults and reserves remain secure<\/li>\n
      • System updates have already been implemented to prevent similar incidents<\/li>\n<\/ul>\n

        The investigation is still ongoing. The protocol confirmed that it is working with several blockchain security firms, including Hypernative Labs, SlowMist, and CertiK, to determine the technical details of the exploit.<\/p>\n

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        Incident Update: BRO Vault<\/p>\n

        A limited exploit occurred in one of our BRO vaults, affecting a very small number of users (<10).<\/p>\n

        The impacted amount is 38.0474 SolvBTC.<\/p>\n

        All other vaults and user funds remain secure and unaffected. We're actively investigating with top security\u2026<\/p>\n

        — Solv Protocol (@SolvProtocol) March 5, 2026<\/a><\/p><\/blockquote>\n