#SolvBTC+ Redemption Dispute
On July 13, the deployer’s private key was leaked. The BTC+ contracts on BNB Smart Chain were attacked. One user says their address still cannot redeem normally to this day. Solv responded that this is an isolated case of single-transaction risk control review; the subscription and redemption mechanism is still running normally, and the assets are still fully held in custody within the protocol.
After the news broke, the $BTC contract moved from 83859.1 to 84266.2, up 0.49%. Over the past hour, the buy-sell ratio driven by active trading is 1.091; over the past 15 minutes it is 1.771. But since the announcement, the active buy-sell ratio is 0.93 and the position value change is -0.51%. The buy side can push the price, but it can’t push the positions.
At the protocol level, the investigation of individual cases has dragged on, testing the trust premium involved in handing BTC to a third party for wrapping. If this discount is discussed repeatedly, capital will be more willing to stay in the native exposure. As long as 82851.5 does not break, this round of repair is still underway.
On July 13, the deployer’s private key was leaked. The BTC+ contracts on BNB Smart Chain were attacked. One user says their address still cannot redeem normally to this day. Solv responded that this is an isolated case of single-transaction risk control review; the subscription and redemption mechanism is still running normally, and the assets are still fully held in custody within the protocol.
After the news broke, the $BTC contract moved from 83859.1 to 84266.2, up 0.49%. Over the past hour, the buy-sell ratio driven by active trading is 1.091; over the past 15 minutes it is 1.771. But since the announcement, the active buy-sell ratio is 0.93 and the position value change is -0.51%. The buy side can push the price, but it can’t push the positions.
At the protocol level, the investigation of individual cases has dragged on, testing the trust premium involved in handing BTC to a third party for wrapping. If this discount is discussed repeatedly, capital will be more willing to stay in the native exposure. As long as 82851.5 does not break, this round of repair is still underway.
