On March 5th, an unknown attacker targeted the decentralized platform Solv Protocol, as reported by the project team.
Incident Update: BRO Vault
A limited exploit occurred in one of our BRO vaults, affecting a very small number of users (<10). The impacted amount is 38.0474 SolvBTC. All other vaults and user funds remain secure and unaffected. We’re actively investigating with top security…
— Solv Protocol (@SolvProtocol) March 5, 2026
The incident affected fewer than ten users, with total damages estimated at $2.7 million. The developers have promised full compensation for the losses.
According to Decurity, the attacker exploited a double-minting vulnerability in the BitcoinReserveOffering (BRO) contract 22 times. This allowed the conversion of 135 BRO into 567 million BRO, which the hacker then exchanged for approximately 38 SolvBTC.
🚨 @SolvProtocol has been exploited for $2.7M
The BitcoinReserveOffering (BRO-SOLV-20MAY2026) contract’s mint() function has a double-minting flaw. When a user mints by transferring a full ERC-3525 NFT, doSafeTransferIn triggers the onERC721Received callback which mints BRO… pic.twitter.com/JcZIGtJUaH
— Defimon Alerts (@DefimonAlerts) March 5, 2026
Solv assured that other vaults and client assets remain secure. The team is investigating the incident with Hypernative Labs, SlowMist, and CertiK, and has taken measures to prevent a recurrence.
The platform offered the hacker 10% of the amount as a reward for returning the stolen assets.
Solv Metrics and Native Token Reaction
The platform has 8,847 BTC worth $623 million locked. According to the Solv website, the project is the largest on-chain reserve of the first cryptocurrency, with a balance of 24,226 BTC.
Following the news of the BRO vault breach, the price of the platform’s native token SOLV rose by 3.5%. At the time of writing, the asset is trading around $0.004.
Back in August 2025, Solv developers introduced the BTC+ Vault solution. This allows Bitcoin holders to automatically earn returns on assets stored in the vault.