WBTC
Coverage of WBTC in the Nexus archive.
- BTCFi protocol Echo exploited, targeting eBTC market on Monad: onchain analysts
The BTCFi protocol Echo was exploited, resulting in the minting of 1,000 eBTC on Monad, which was used as collateral to borrow WBTC. This exploit targeted the eBTC market and was identified by onchain analysts. The incident highlights a security vulnerability in the protocol.
- Attackers drain $1.4M in wrapped bitcoin from DeFi protocol Ekubo in approval-based exploit
Ekubo Protocol lost $1.4 million in WBTC due to an exploit in its EVM swap router contracts. The attackers drained the funds by exploiting a flaw in the protocol. This incident highlights a security vulnerability in DeFi protocols.
- Avalanche C Chain facing practical liquidity issues for larger USDC/USDT exits?
The author, who works in the blockchain space, has noticed liquidity issues with larger USDC and USDT exits on the Avalanche C Chain, experiencing high slippage and poor routing. This has led to questions about the broader liquidity situation on Avalanche. The author is seeking input from those familiar with the ecosystem.
- Sui-based Volo Protocol exploited; team pledges to absorb losses
Sui-based liquid staking platform Volo Protocol was exploited for approximately $3.5 million from its WBTC, XAUm, and USDC vaults. The team has pledged to absorb the losses.
- How a Lombard Loan against BTC actually works at a Swiss private bank (bank-custodied)
The article compares Bitcoin collateralized loan options, highlighting risks in DeFi (e.g., Aave's rsETH exploit causing $177M+ losses) and CeFi (e.g., Nexo's custodied BTC loans) versus safer Swiss private bank custodianship. It emphasizes trust in centralized wrappers like WBTC and cbBTC, and the vulnerabilities of pooled collateral and oracle dependencies in DeFi.