DeFi Bitcoin Lending Protocol Sovryn Suffers $1.1M Exploit
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6 October

Sovryn, a decentralized finance (DeFi) platform based on the RSK Bitcoin sidechain, said in a blog post it has suffered a $1.1 million exploit, targeting the legacy Lend/Borrow protocol.

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The developers say they are still investigating the exploit, but know that it does not affect the Zero protocol. As a result of the attack, two lending pools have been affected: RBTC and USDT. The attackers stole 44.93 RBTC (~$915,000) and 211,045 USDT.

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However, the Sovryn developers noted that through a "combined effort" they have managed to recover "about half the value of the exploit." Fund recovery efforts are still ongoing.

In April 2021, Sovryn raised $9 million from a consortium of partners led by Anthony Pompliano's Pomp Investments.

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