Solv Protocol — Vault Got Hit, 38 SolvBTC Gone
So Solv Protocol, which is basically a Bitcoin DeFi platform that lets you earn yield on your BTC, got hit by an attacker on March 5th. Someone found a bug in one of their BRO vault contracts, a double-minting flaw, and used it 22 times to turn 135 BRO tokens into 567 million BRO. Then they just swapped all of that inflated garbage for real SolvBTC.
The result — about 38.05 SolvBTC, worth roughly $2.7 million, was drained. Less than 10 users got hit, and every other vault on the platform was left untouched.
Solv didn't run away from it. They said they will fully cover the losses and they even posted an Ethereum wallet address publicly, offering the attacker a 10% white-hat bounty to return the funds. As of reporting, the attacker hasn't responded. They're working with security firms Hypernative Labs, SlowMist, and CertiK to figure out what exactly went wrong and make sure it can't happen again.
For context, there's still over $508 million total locked in SolvBTC products, so this wasn't a protocol-wide collapse — just one vault with a bad contract. Still, it stings.