SYND Crashes 37% After Syndicate Network Bridge Hack
Blockchain safety agency CertiK reported an exploit involving the Ethereum infrastructure platform, Syndicate, after a compromise of the Commons bridge. According to CertiK, an tackle acquired round 18.5 million SYND tokens and offered them for roughly $330,000.
The funds had been then bridged to Ethereum.
Syndicate Promises User Compensation
The newest breach had a devastating affect on its native token. Data from CMC revealed that SYND dropped greater than 37% prior to now 24 hours, falling to $0.021.
Syndicate Network, which develops infrastructure for application-specific blockchains with on-chain sequencers, confirmed the Commons bridge compromise on X and revealed that it’s investigating uncommon actions in SYND.
As per the newest assertion issued, the crew is tracing the assault, working with safety companies, and has suggested customers to keep away from offering liquidity till the scenario is resolved. It additionally stated it’s exploring choices to compensate affected customers and has ample token reserves to assist those that misplaced SYND.
Rampant Hacks
The newest breach comes lower than two weeks after the KelpDAO assault, one of many largest crypto exploits of 2026, which noticed over $293 million drained by means of a cross-chain bridge vulnerability. Chainalysis had beforehand acknowledged that it was a complicated assault on off-chain infrastructure.
Hackers compromised inside RPC nodes and disrupted exterior ones utilizing DDoS assaults to ship false information to a single-point verification system. This brought about the Ethereum contract to launch funds tied to a faux token burn. Because transactions regarded regular on-chain, commonplace safety checks missed the problem.
More lately, Volo Protocol reported a safety breach that resulted in losses of about $3.5 million from its vaults. The exploit affected three vaults holding WBTC, XAUm, and USDC. The crew stated it detected the incident and responded by notifying the Sui Foundation and ecosystem companions, whereas freezing the impacted vaults. All vaults had been later paused as a precaution in the course of the investigation.
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