ERC-20 token on Ethereum intended to be backed one-for-one by custodied bitcoin.
Babylon's Oct. 14 Aave proposal would pay liquidators of native Bitcoin collateral in WBTC from the shared Hub pool. Suppliers of that asset would carry any shortfall on the draw unless protection had been allocated to absorb it, CryptoSlate reported.
Reality
Ledger now offers USDC and USDT loans against cbBTC or wBTC through Morpho to a wallet base it says secures almost 30% of retail bitcoin. Borrowers keep their keys but pay a rate set by pool demand and carry the liquidation risk themselves.
Reality
Tether-backed Utexo plans to issue USDT on Bitcoin and police the nearly $190 billion stablecoin there with a coin blacklist in place of address freezes. Utexo cannot freeze those coins, so a block holds only where exchanges and bridges check the list.
Perspective Coverage
3 publishersReality
A BridgeV2 flaw let an attacker mint about 2^62 unbacked syBTC, of which 4.39 WBTC got sold before Blockaid flagged it. Symbiosis has halted BTC routing and recovered 15 BTC into a multisig wallet.
Reality
Symbiosis halted BTC routing on September 11 after its BridgeV2 processed a bad message and generated more than 2^62 unbacked syBTC. The attacker realized about $336,000, roughly 1.5 times the average hack TRM counted this year.
Reality