TechFlow news: On April 29, CertiK disclosed that Syndicate’s protocol suffered an exploit due to a security breach in the Commons cross-chain bridge. Exploiting this vulnerability, the attacker acquired approximately 18.5 million SYND tokens and sold them for roughly $330,000. The proceeds have since been transferred via the cross-chain bridge to the Ethereum network.
Syndicate’s official response stated that it is investigating the security incident involving the Commons bridge. The team is tracking the attack and collaborating with security firms. It is also evaluating various options to compensate affected users. Syndicate holds sufficient token reserves to assist users who lost SYND tokens.
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