Solv Protocol lost $2.7 million after a hacker exploited a double minting vulnerability 22 times, according to CoinDesk. The attacker inflated 135 BRO tokens into 567 million tokens before converting them to SolvBTC. Solv Protocol, which holds over $1.7 billion in Bitcoin reserves, offered a 10% bounty (about $270,000) and is investigating with CertiK and SlowMist.
Solv Protocol Breach: Double Minting Flaw Exposes DeFi Code Risk
The hacker repeatedly called the mint function to amplify a small amount of BRO tokens, eventually siphoning SolvBTC. The platform paused the contract after the attack, but the loss stands. The incident underscores that even projects with large collateral reserves remain vulnerable to smart contract bugs. The hacker has not yet responded to the bounty offer.
Pepeto Presale: $7.5M Raised with SolidProof Audit Completed Before Launch
In contrast, Pepeto completed its SolidProof audit before any presale funds were raised. The project has now gathered over $7.5 million. Its team claims leadership from a co-founder of the Pepe ecosystem who previously built a token to a $7 billion market cap. Features include a cross-chain bridge (Ethereum, BNB Chain, Solana), zero transaction tax, a contract risk scoring system, and staking with 209% APY.
The projected 267x return is based on post-listing market cap comparisons with similar infrastructure tokens. Actual performance depends on user adoption and market conditions. Pepeto also indicates a Binance listing is approaching, and the presale window is narrowing.
Chainlink Holds $8.75, SUI Bounces Near $0.90
Chainlink (LINK) trades at $8.75, with analysts eyeing $13 as oracle demand grows. SUI rebounded to $0.90 after buyers defended the $0.82-$0.88 support zone. Both tokens are consolidating, awaiting catalysts.
As DeFi exploits raise security concerns, some capital is rotating into audited early-stage projects like Pepeto. However, investors should independently verify audit details and watch for marketing hype.