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A hacker transformed 25 cents worth of Bitcoin into 46 billion counterfeit BTC tokens via a DeFi bridge
In early 2024 a relatively modest investment—just a quarter of a U.S. dollar in Bitcoin—was turned into a staggering 46 billion synthetic Bitcoin tokens (syBTC) on a decentralized finance (DeFi) bridging platform. The incident, which quickly captured the attention of the crypto community, exposed critical weaknesses in the bridge’s smart‑contract code and highlighted the systemic risks that arise…
Sept. 15, 2026, 1:43 p.m.
Tech
A hacker transformed a quarter‑dollar worth of Bitcoin into 46 billion counterfeit BTC tokens via a DeFi bridge
In a striking illustration of how vulnerabilities in decentralized finance (DeFi) protocols can be exploited for massive profit, a single attacker managed to turn a modest 25‑cent holding of Bitcoin into an astonishing 46 billion fake Bitcoin tokens. The operation was carried out on a DeFi bridge known as Symbiosis, a platform that enables users to move assets across disparate blockchain networks…
Sept. 15, 2026, 1:43 p.m.
Tech
A hacker transformed a quarter‑dollar worth of Bitcoin into 46 billion counterfeit BTC tokens via a DeFi bridge
In a striking episode that underscores the lingering vulnerabilities of decentralized finance, a single attacker managed to turn a modest 25‑cent holding of Bitcoin into a staggering 46 billion synthetic Bitcoin tokens (syBTC) on the Symbiosis DeFi bridge. The exploit was not the result of a sophisticated cryptographic breakthrough but rather the exploitation of two separate software bugs that, w…
Sept. 15, 2026, 1:43 p.m.
Tech
A hacker transformed 25 cents worth of Bitcoin into 46 billion counterfeit BTC tokens via a DeFi bridge
In early 2024 a relatively modest investment—just a quarter of a U.S. dollar in Bitcoin—was turned into a staggering 46 billion synthetic Bitcoin tokens (syBTC) on a decentralized finance (DeFi) platform that serves as a bridge between multiple blockchain networks. The incident quickly became one of the most dramatic examples of how a single exploit can generate a quantity of tokens that dwarfs t…
Sept. 15, 2026, 1:43 p.m.
Tech
A hacker transformed a quarter‑dollar of Bitcoin into 46 billion counterfeit BTC tokens through a DeFi bridge
In early 2024 a startling security breach unfolded on a decentralized finance (DeFi) platform that highlighted both the promise and the perils of the rapidly expanding crypto ecosystem. A single attacker, armed with only a modest amount of cryptocurrency—roughly twenty‑five US cents worth of Bitcoin—exploited two distinct software vulnerabilities in a cross‑chain bridge called Symbiosis. By manip…
Sept. 15, 2026, 1:43 p.m.
Tech
A hacker transformed a quarter‑bitcoin into 46 billion counterfeit BTC tokens via a DeFi bridge
In a startling episode that underscores the fragility of decentralized finance (DeFi) infrastructures, a single attacker managed to convert a modest 25 cents worth of Bitcoin into an astronomical 46 billion fake Bitcoin tokens, known in the ecosystem as syBTC. This exploit was carried out on a DeFi bridge—a type of protocol that enables users to move assets across different blockchain networks—by…
Sept. 15, 2026, 1:43 p.m.
Tech
A hacker transformed 25 cents worth of Bitcoin into 46 billion counterfeit BTC tokens via a DeFi bridge
In a striking episode that underscores the fragility of decentralized finance (DeFi) infrastructure, a single attacker managed to turn a modest investment of roughly twenty‑five U.S. cents worth of Bitcoin into a staggering 46 billion fake Bitcoin tokens. The exploit was carried out on a cross‑chain bridge operated by Symbiosis, a platform that enables users to move assets between different block…
Sept. 15, 2026, 1:43 p.m.
Tech
A hacker transformed a quarter‑bitcoin into 46 billion counterfeit BTC tokens via a DeFi bridge
In a startling episode that underscores the fragility of decentralized finance (DeFi) protocols, a single attacker managed to convert a modest 0.25 BTC—equivalent to roughly twenty‑five U.S. cents at today’s market price—into an astonishing 46 billion synthetic Bitcoin tokens (syBTC) on a popular cross‑chain bridge. This dramatic inflation of token supply was made possible by exploiting two disti…
Sept. 15, 2026, 1:43 p.m.
Tech
A hacker transformed a quarter‑bitcoin into 46 billion counterfeit BTC tokens via a DeFi bridge
In a striking episode that underscores the growing pains of decentralized finance, a single attacker managed to convert a modest 0.25 BTC holding into a staggering 46 billion synthetic Bitcoin tokens (syBTC) on a cross‑chain bridge. The exploit was made possible by a combination of two separate software vulnerabilities embedded in the bridge’s smart‑contract architecture, allowing the malicious a…
Sept. 15, 2026, 1:43 p.m.
Tech
A hacker transformed a quarter‑dollar worth of Bitcoin into 46 billion counterfeit BTC tokens through a DeFi bridge
In early 2024 a dramatic exploit unfolded on the Symbiosis decentralized finance (DeFi) platform, highlighting how a single vulnerability can be leveraged to create an astronomical amount of synthetic Bitcoin tokens—far exceeding the real-world supply of the cryptocurrency. The attacker began with a modest investment of just 25 cents worth of Bitcoin, yet through a series of coordinated actions a…
Sept. 15, 2026, 1:43 p.m.