Symbiosis Protocol reported that the team managed to recover about 15 Bitcoin that were at risk after an attack by an unknown party on September 11. According to Symbiosis, the funds are already on a cryptocurrency wallet controlled by the team.
Symbiosis Protocol is a cross-chain protocol for exchanging assets between different blockchain networks. Such solutions use bridges and smart contracts so users can transfer liquidity and swap tokens without manually switching between networks.
What Happened With BridgeV2
An attacker found a vulnerability in the BridgeV2 smart contract and used it to issue a large volume of unsecured synthetic syBTC tokens. Symbiosis admitted that their nominal value amounted to billions of dollars.
The developers quickly separated about 15 BTC that were held as bridge collateral. As a result, the actual damage was much less than it could have been in a worst-case scenario.
The hacker managed to swap about 4.39 WBTC worth roughly $336,000 via Uniswap v4. The team emphasized that the returned 15 Bitcoin are now under their control.
Compensation and Search for Remaining Assets
“We are directly contacting all affected partners under license agreements. We are developing a compensation system and will soon publish the criteria,” Symbiosis said in a statement.
The project also offered a reward of 20% of the amount to anyone who provides information that can help recover the remaining assets.
How Safe Is Symbiosis Protocol After the Attack
The incident showed that BridgeV2 had a critical vulnerability, meaning the risks for cross-chain bridge users remain real. However, Symbiosis quickly removed about 15 BTC from risk, took control of these funds, and began preparing a compensation mechanism for affected partners.
From a security perspective, users should closely follow Symbiosis updates, check bridge status before making large transfers, and not ignore smart contract risks. This is especially important for operations between different blockchain networks, where a failure in one contract can affect liquidity, fees, exchange speed, and the safety of funds in a crypto wallet. This also applies to major networks, including Solana.
Context: Return of Funds in the Liquid Network
Earlier, hackers returned 3,400 Bitcoin worth about $270 million to a wallet on the Liquid network. Previously, about 4,000 Bitcoin worth about $320 million had been withdrawn from it. The return of the assets was reported by JAN3 CEO and former Blockstream executive Samson Mow.
