Cross-chain liquidity protocol Symbiosis recovered 15 Bitcoin, worth about $1.1 million, after a recent exploit of its native Bitcoin bridge. The assets were moved into a team-controlled multi-signature wallet, while bridge operations remain paused. The attacker had minted 46.1 billion unbacked tokens and reportedly netted 4.3 Wrapped Bitcoin, or roughly $336,000, according to Blockaid and DefiLlama. Symbiosis has not yet clarified how the recovered Bitcoin compares with the calculated proceeds. After the hacker ignored an earlier white-hat offer, Symbiosis is now offering a 20% bounty for information leading to further asset recovery and plans to publish a compensation framework for affected liquidity providers as accounting concludes.
This update represents a notable development in the Crypto sector. Organizations and founders tracking this space should evaluate potential strategic and technical implications on their operations.