Solv Protocol Loses $2.7 Million in Exploit, Offers 10% Bounty for Return of Funds
Solv Protocol is a Bitcoin-focused decentralized finance platform that allows users to convert BTC into SolvBTC for use in lending, staking and yield strategies. The vulnerability was confined to a single Bitcoin Reserve Offering (BRO) vault, but it nonetheless highlighted how flaws in smart-contract minting logic can directly erode on-chain assets and user trust.
On March 5, 2026, the attacker exploited a flaw in the BRO vault contract 22 times, converting improperly minted tokens into 38.0474 SolvBTC, worth about $2.7 million at the time. Solv Protocol has patched the vulnerability and is investigating with Hypernative, SlowMist and CertiK. The protocol said it would cover the loss and offered a 10% white-hat bounty if the attacker returned the remaining funds.
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The history behind this eventSolana-Based Drift Protocol Hacked for $220 Million
Drift Protocol is a major decentralized perpetual futures exchange in the Solana ecosystem, allowing users to deploy assets in trading, lending and vaults. The attack was not simply a smart-contract exploit but a prolonged infiltration targeting governance multisig controls and trust in personnel. More than half of the protocol's total value locked was affected, highlighting operational security risks in DeFi.
On April 1, 2026, the attackers seized control of Drift's multisig and transferred assets within 10 seconds. The loss estimate was raised from an initial range of $136 million to $220 million to $285 million, including $155.6 million in JLP, while DRIFT fell more than 30%. Drift said on April 5 that UNC4736, a North Korea-linked group, had posed as a quantitative trading firm since the fall of 2025, infiltrating the protocol for six months and using Durable Nonce to bypass its multisig.
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