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SolvBTC

avoid.net/solvbtc→38/100·78% conf.
[AI-DRAFTED · AWAITING FACT-CHECK][src:defillama]

Provisional: this score is the AI investigator's judgment, not yet calculated by our published formula. Treat it as indicative. How scoring works →

anchored·4wQKb5…m78V
last updated 2026-08-29

Summary

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 · 59 linked investigations
Organizations
□Ethena55□Chainlink96□Ethereum□Blockchain Capital□Arbitrum□Binance□Mantle□Base□SolvBTC
Tokens
♦Coinbase♦Bitcoin
Relationships
  • 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
Also appears in
USD Coin (USDC)·71LayerZero Protocol·55Neutrl DeFi DNS Frontend Hijack (March 2026)·62JaredFromSubway.eth MEV Bot - Counter-Honeypot Exploit·10Falcon USD (USDf)·30Cork V1·10UwuLend·53Truflation·62US Permissionless Dollar·59Ethena·58
Have evidence about SolvBTC?

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.

Provenance & Audit Trail
Recorded on Solana ✓Verify on-chain18 Wayback Archivessrc:defillama

Decision Log

  • #1publishRecorded on Solana ✓5/26/2026, 7:24:38 PM
    slot 422346978 · hash 7SpxVj5EPFLPFwnfvf8wJduvgcypb2xbVaJpwuBgdd3L

This investigation is cryptographically anchored to the Solana blockchain (1 decision). 18 of 28 cited source URLs have an Internet Archive snapshot.

full audit log →version history →

model: claude-sonnet-4-6

generated: 5/4/2026, 2:54:13 AM

last updated: 8/29/2026, 1:36:07 AM

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