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{"actor":"system:backfill","investigation_id":"8caaef4d-6baf-4e40-9d4a-444d04b872dd","kind":"publish","page_slug":"sovryn","published_at":"2026-05-28T17:25:01.662Z","sequence_num":1,"snapshot":{"content_type":"investigation","entity_name":"Sovryn","sections":[{"content":"","heading":"","severity":"medium","sources":[{"credibility":3,"name":"https://www.coindesk.com/tech/2020/12/15/defi-on-bitcoin-gets-a-boost-as-sovryn-launches-on-rsk-sidechain","type":"other","url":""},{"credibility":3,"name":"https://sovryn.com/all-things-sovryn/sovryn-raises-10m-offers-1-2m-bug-bounty","type":"other","url":""},{"credibility":3,"name":"https://www.coindesk.com/business/2021/03/24/bitcoin-based-defi-project-sovryn-near-agreement-on-10m-investment-from-pomp","type":"other","url":""},{"credibility":3,"name":"https://wiki.sovryn.com/en/technical-documents/tokenomics","type":"other","url":""}]},{"content":"","heading":"","severity":"medium","sources":[{"credibility":3,"name":"https://www.halborn.com/blog/post/explained-the-sovryn-hack-october-2022","type":"other","url":""},{"credibility":3,"name":"https://sovryn.com/all-things-sovryn/interim-exploit-update","type":"other","url":""},{"credibility":3,"name":"https://cryptopotato.com/bitcoin-defi-protocol-sovryn-gets-hacked-for-over-1-million/","type":"other","url":""},{"credibility":3,"name":"https://cryptodaily.co.uk/2022/10/defi-protocol-sovryn-suffers-exploit-1-1-million-stolen","type":"other","url":""},{"credibility":3,"name":"https://www.web3isgoinggreat.com/?id=more-than-1-1-million-stolen-from-sovryn-defi-protocol","type":"other","url":""}]},{"content":"","heading":"","severity":"medium","sources":[{"credibility":3,"name":"https://medium.com/immunefi/sovryn-loan-vulnerability-postmortem-ffaf4d1d688f","type":"other","url":""},{"credibility":3,"name":"https://sovryn.com/all-things-sovryn/bitcoin-based-defi-protocol-sovryn-raises-10m-offers-1-2m-bug-bounty","type":"other","url":""}]},{"content":"","heading":"","severity":"medium","sources":[{"credibility":3,"name":"https://wiki.sovryn.com/en/technical-documents/tokenomics","type":"other","url":""},{"credibility":3,"name":"https://www.coingecko.com/en/coins/sovryn","type":"other","url":""},{"credibility":3,"name":"https://coinmarketcap.com/currencies/sovryn/","type":"other","url":""}]},{"content":"","heading":"","severity":"medium","sources":[{"credibility":3,"name":"https://sovryn.com/all-things-sovryn/sovryn-defi-sec-regulation-crypto-exchanges","type":"other","url":""}]},{"content":"","heading":"","severity":"medium","sources":[{"credibility":3,"name":"https://t.me/s/investigations","type":"other","url":""}]},{"content":"","heading":"","severity":"medium","sources":[{"credibility":3,"name":"https://wiki.sovryn.com/en/project/2024-development","type":"other","url":""},{"credibility":3,"name":"https://sovryn.com/all-things-sovryn/sovryns-transformative-2024","type":"other","url":""},{"credibility":3,"name":"https://forum.sovryn.com/t/sovryn-financial-report-q4-2024-q4-2025/3548","type":"other","url":""},{"credibility":3,"name":"https://messari.io/report/state-of-rootstock-q4-2025","type":"other","url":""},{"credibility":3,"name":"https://defillama.com/protocol/sovryn","type":"other","url":""}]}],"sources_used":[],"summary":"Sovryn is a Bitcoin-backed decentralized finance protocol built on the Rootstock (RSK) sidechain, offering lending, borrowing, margin trading, and AMM services with its native SOV governance token. The protocol suffered a confirmed $1.1 million price manipulation exploit in October 2022 targeting its legacy lending pools, with approximately half of funds recovered via developer intervention. A separate critical smart contract vulnerability was disclosed via bug bounty in March 2021 but was not exploited. ZachXBT has flagged the entity; no detailed public post from ZachXBT specifically detailing Sovryn allegations was independently located at time of investigation.","timeline":[{"date":"2020-12-15","event":"Sovryn launches on Rootstock (RSK) sidechain, offering Bitcoin-native DeFi lending and trading.","source":""},{"date":"2021-03-11","event":"Whitehat researcher 'Turbo' discloses a critical authorization bypass vulnerability via Immunefi bug bounty; vulnerability not exploited. Sovryn pays $76,568 bounty and patches the flaw.","source":""},{"date":"2021-03-24","event":"Reports emerge of Sovryn being near a $10 million investment agreement involving Anthony Pompliano ('Pomp'), per CoinDesk.","source":""},{"date":"2021-10-07","event":"SOV token reaches all-time high of approximately $44.91.","source":""},{"date":"2022-10-04","event":"Price manipulation exploit drains 44.93 RBTC and 211,045 USDT (approximately $1.1 million) from legacy lending pools via iToken flash loan attack. Sovryn places protocol in maintenance mode; approximately half of funds recovered.","source":""},{"date":"2022-12-11","event":"SOV token reaches all-time low of approximately $0.021.","source":""},{"date":"2024-11-01","event":"Sovryn Bitocracy approves SIP-0083, formalizing Sovryn's role as a contributor to the BitcoinOS initiative and launching the $BOS token.","source":""},{"date":"2025-01-01","event":"Sovryn publishes 2024 Development Report and financial summary covering Q4 2024 through Q4 2025; TVL reported at approximately $44.7 million on RSK, down 33.9% quarter-over-quarter.","source":""}]},"v":1}