DeFi Bridge Exploit Lets Hacker Mint 46 Billion Fake BTC from Just $0.25

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A hacker exploited two software vulnerabilities in a DeFi bridge protocol to mint approximately 46 billion synthetic Bitcoin tokens using only 25 cents worth of real BTC. The fabricated tokens, known as syBTC, represented more than 2,000 times Bitcoin's entire maximum supply, making them completely unbacked by real assets. The attack targeted Symbiosis, a cross-chain DeFi bridge platform. Symbiosis has since assessed its preliminary losses from the incident at 9.97 BTC.

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