Hacker Steals $2.7 Million from Solv Protocol Amid Token Surge

On March 5, the decentralized platform Solv Protocol experienced a significant breach when an unidentified hacker exploited a vulnerability in one of its contracts, leading to a theft estimated at $2.7 million.

According to Solv Protocol's team, the exploit occurred within a limited portion of their BRO vaults, impacting fewer than ten users. They reported that only a total of 38.0474 SolvBTC was taken, while ensuring that all other vaults and user funds remained secure.

We are actively investigating the incident with top security firms. Our users' funds in other vaults are secure.

— Solv Protocol (@SolvProtocol)

The breach was linked to a double-minting flaw in the BitcoinReserveOffering (BRO) contract, which the hacker exploited 22 times. This manipulation allowed the criminal to generate 135 BRO, inflating it to 567 million BRO, which was then converted to roughly 38 SolvBTC.

In response to the incident, Solv Protocol is collaborating with security agencies such as Hypernative Labs and CertiK to analyze the breach and prevent future occurrences. They also incentivized the hacker with a 10% reward on the returned assets.

Market Response and Current Metrics

Despite the hack, Solv's native token, SOLV, saw a 3.5% increase in value following the news, trading at around $0.004. Meanwhile, the platform holds about 8,847 BTC, valued at approximately $623 million, making it a significant player in on-chain Bitcoin reserves with a total of 24,226 BTC.

This incident comes after the launch of Solv’s BTC+ Vault in August 2025, which allows Bitcoin holders to earn yield from vault-held assets.