Crypto Potato 2026-04-29 09:31:00

SYND Crashes 37% After Syndicate Network Bridge Hack

Blockchain security firm CertiK reported an exploit involving the Ethereum infrastructure platform, Syndicate, after a compromise of the Commons bridge. According to CertiK, an address acquired around 18.5 million SYND tokens and sold them for approximately $330,000. The funds were then bridged to Ethereum. Syndicate Promises User Compensation The latest breach had a devastating impact on its native token. Data from CMC revealed that SYND dropped more than 37% in the past 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 is investigating unusual movements in SYND. As per the latest statement issued , the team is tracing the attack, working with security firms, and has advised users to avoid providing liquidity until the situation is resolved. It also said it is exploring options to compensate affected users and has sufficient token reserves to support those who lost SYND. Rampant Hacks The latest breach comes less than two weeks after the KelpDAO attack, one of the largest crypto exploits of 2026, which saw over $293 million drained through a cross-chain bridge vulnerability. Chainalysis had previously stated that it was a sophisticated attack on off-chain infrastructure. Hackers compromised internal RPC nodes and disrupted external ones using DDoS attacks to send false data to a single-point verification system. This caused the Ethereum contract to release funds tied to a fake token burn. Because transactions looked normal on-chain, standard security checks missed the issue. More recently, Volo Protocol reported a security breach that resulted in losses of about $3.5 million from its vaults. The exploit affected three vaults holding WBTC, XAUm, and USDC. The team said it detected the incident and responded by notifying the Sui Foundation and ecosystem partners, while freezing the impacted vaults. All vaults were later paused as a precaution during the investigation. The post SYND Crashes 37% After Syndicate Network Bridge Hack appeared first on CryptoPotato .

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