Solv Protocol suffers $2.7 million vulnerability attack: SolvBTC vault was stolen, but the SOLV token price remains unaffected

March 6 News: Decentralized finance platform Solv Protocol recently confirmed that one of its BRO vaults was exploited through a vulnerability. The attacker exploited a contract flaw to extract approximately 38.0474 SolvBTC, resulting in a loss of about $2.7 million at current prices. The project team stated that the incident had limited impact, and the SOLV token and other vault assets were unaffected.

Solv Protocol is a DeFi platform built around Bitcoin, mainly offering Bitcoin asset yield products. The team noted in an announcement that the vulnerability only affected a few accounts, with fewer than 10 users impacted. The platform has pledged to fully compensate for the losses and is working with security teams to investigate.

Security firm Decurity’s automated monitoring system analyzed that the attacker exploited a double-minting bug in the “BitcoinReserveOffering” contract. Through 22 operations, they inflated 135 BRO tokens to approximately 56.7 million BRO, then exchanged these assets for about 38 SolvBTC, enabling the attacker to cash out.

Solv Protocol stated that all other vaults and user assets remain secure. The team has taken emergency technical measures to patch the vulnerability and is conducting further audits of related contracts to prevent similar incidents. Additionally, the project has publicly offered a 10% bounty to the attacker if they return the stolen funds.

Despite the security incident, the SOLV token market remained relatively stable. Data shows that over the past 24 hours, SOLV’s price increased by about 2%, not following the overall downward trend of the crypto market, indicating that some investors still maintain confidence in the project’s future.

In recent years, security issues in DeFi protocols continue to be a major industry concern. Blockchain analysis firm Chainalysis reported that in 2025, the total illegal crypto transaction volume reached approximately $154 billion, a record high, with hacking, exploits, and money laundering activities still on the rise.

Industry experts point out that as Bitcoin yield DeFi products expand and smart contract complexity increases, the importance of protocol security audits, bug bounty programs, and on-chain real-time monitoring systems also grows. Although the Solv Protocol incident was limited in scale, it serves as a reminder that the DeFi ecosystem must continually balance innovation and security.