SolvBTC
Last changed 2026-11-02 · Fact-check review — Fact-check review (verdict: revise): the reviewer checked the page's claims against its sources; the judge moved the trust score from 38 to 23. Version history →
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anchored·4wQKb5…m78VSummary
SolvBTC is the flagship wrapped Bitcoin product of Solv Protocol, designed to represent Bitcoin in DeFi systems across multiple chains. In March 2026, the BRO vault component of the protocol suffered a $2.7 million exploit due to a double-mint logic flaw in the BitcoinReserveOffering smart contract. Separately, in January 2025, the protocol faced credible public allegations of TVL manipulation prior to its SOLV token launch.
Connected Entities
11 entities · 60 linked investigations- Ethereum→mentioned with→Coinbase(60%)
- Ethereum→mentioned with→Bitcoin(60%)
- Mantle→mentioned with→Ethereum(80%)
- Ethena→mentioned with→Ethereum(75%)
- Binance→mentioned with→Ethereum(65%)
- Chainlink→mentioned with→Ethereum(65%)
- Chainlink→mentioned with→Coinbase(65%)
- Ethena→mentioned with→Coinbase(60%)
- Ethena→mentioned with→Binance(80%)
- Coinbase→mentioned with→Bitcoin(65%)
- + 18 more
Connected Through
11 shared actors · 556 investigationsDistinct actors this investigation shares with others — holders, traders, and named parties. Shared infrastructure (exchanges, pools) is excluded.
- □Ethereumorganization
- ♦Bitcointoken
- □Binanceorganization
- ♦Coinbasetoken
Timeline(9 events)
December 2020
Solv Protocol founded by Ryan Chow and Will Wang.
3 January 2025
Nubit co-founder Lianchuang Hans publicly alleges Solv Protocol is manipulating TVL figures by recycling BTC deposits across multiple protocols. A Bitcoin whale separately claims her 1,800 BTC was used as reserve backing while remaining under her personal control.
5 January 2025
Solv Protocol co-founder Ryan Chow and marketing director Eva Binari publicly deny TVL manipulation allegations, describe them as a smear campaign, and threaten legal action against accusers.
7 January 2025
Binance Megadrop for SOLV token begins, offering up to 4.7 million SOLV to participants.
17 January 2025
SOLV governance token officially launches.
September 2025
Solv Protocol and Chainlink announce integration of Proof of Reserve into SolvBTC, enabling real-time on-chain verification of reserve backing on Ethereum.
3 March 2026
BRO vault exploit occurs: attacker exploits double-mint logic flaw in BitcoinReserveOffering contract 22 times, draining 38.0474 SolvBTC (~$2.7M). Fewer than 10 users directly affected.
6 March 2026
Solv Protocol publicly confirms the exploit, pledges full reimbursement to affected users, and offers the attacker a 10% white-hat bounty ($270,000) for return of funds. Security firms Hypernative, SlowMist, and CertiK engaged.
13 March 2026
Verichains publishes technical post-mortem classifying the vulnerability as a double-mint logic flaw rather than a canonical reentrancy attack.
Decision Log
- slot 464357635 · hash FZppyM98VgYK6Rie9nq8uctm9yRdgKPzocpDN55jwB3y
- slot 464357629 · hash FiixsFCkYSkA5VaRPeSvkRXe3KHJ3wvgQuX6JBAFb5Dg
- slot 422346978 · hash 7SpxVj5EPFLPFwnfvf8wJduvgcypb2xbVaJpwuBgdd3L
This investigation is cryptographically anchored to the Solana blockchain (3 decisions). 18 of 28 cited source URLs have an Internet Archive snapshot.
model: claude-sonnet-4-6
generated: 5/4/2026, 2:54:13 AM
last updated: 11/2/2026, 4:16:50 AM
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