According to an analysis by security firm Decurity, attackers exploited a double-minting vulnerability in the BRO Vault contract, repeatedly generating fake tokens and exchanging them for SolvBTC. A total of 22 minting operations were completed, ultimately resulting in a loss of approximately $2.7 million for the protocol. In an official statement, Solv Protocol stated that the attack only affected a single BRO Vault and did not impact other systems, characterizing it as a limited and isolated incident. Currently, Solv Protocol is evaluating remediation plans and has committed to compensating affected users through reserve funds. Data shows that the current price of the SOLV token is approximately $0.003996, with bearish market sentiment. The 14-day Relative Strength Index (RSI) is 22.26, with only 9 positive trading days in the last 30, and a volatility of 21.31%, reflecting ongoing market concerns about the incident. The project team has suspended related vault functions and is cooperating with third-party audit teams to conduct a comprehensive security review to restore community trust.
Solv Protocol Hit by BRO Vault Exploit, Loses $2.7 Million
Solv Protocol suffered a $2.7 million loss due to a double-minting vulnerability in the BRO Vault contract. The attack was limited to a single vault, and the project team has initiated a compensation mechanism, suspended related functions, and is conducting a comprehensive security risk assessment.