Solv Protocol suffered an exploit in one of its BRO vaults, resulting in losses of about $2.7 million (38.0474 SolvBTC).
Solv Protocol is a Decentralized Finance (DeFi) platform built around Bitcoin (BTC) yield products. The protocol noted that the scope of the exploit was limited, impacting only a small number of users.
Why it matters:
- Solv has confirmed that they will cover the losses incurred by impacted users.
- The protocol has also called on the attacker to return the funds, offering a 10% white-hat bounty.
- Meanwhile, the protocol’s token, SOLV, remained unaffected by the exploit.
- BeInCrypto Markets data showed that the token rose approximately 2% in the past day, in line with the broader market recovery.
The details:
- Solv Protocol publicly confirmed the exploit and stated that all other vaults and user assets remain unaffected.
- The team stated that the exploit impacted fewer than 10 users.
- Solv also mentioned that they are actively investigating with leading security partners and have implemented measures to prevent similar incidents from happening again.
- As per Decurity’s automated bot, the attacker exploited a double-minting vulnerability in the ‘BitcoinReserveOffering’ contract 22 times, converting 135 BRO into 567 million BRO. The attacker then swapped it for approximately 38 SolvBTC.
The big picture:
- The recent attack adds to the growing number of incidents as crypto companies continue to be targeted by cybercriminals.
- Chainalysis reported illicit crypto transaction volume hit $154 billion in 2025, the highest level on record.
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