Cross-chain liquidity protocol Symbiosis has recovered 15 Bitcoin, valued at approximately $1.1 million, following a Friday exploit of its native Bitcoin bridge. The protocol is now offering a 20% bounty for information leading to the recovery of any remaining stolen assets.
Bridge exploits continue to pose significant risks to decentralized finance protocols, highlighting ongoing security challenges in the crypto space. The recovery of some assets and the offer of a bounty signal ongoing efforts to mitigate losses for users and restore confidence.
Cross-chain liquidity protocol Symbiosis announced on Friday that it has recovered 15 Bitcoin, valued at approximately $1.1 million, following a security exploit that affected its native Bitcoin bridge. The bridge remains paused, though Symbiosis stated that all other routes are operational.
According to blockchain security firm Blockaid, the attacker minted 46.1 billion unbacked tokens from the protocol's Bitcoin bridge and realized net proceeds of 4.3 Wrapped Bitcoin (WBTC), worth $336,000. Symbiosis has not yet specified how the recovered Bitcoin relates to these attributed proceeds.
The protocol initially offered the attacker a 20% white-hat bounty to return the stolen funds, but the deadline expired on Sunday. Symbiosis is now offering a 20% bounty to anyone who provides information that leads to the recovery of any remaining assets. The protocol also stated that it will disclose a compensation plan for affected liquidity providers.