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b14g
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The coordination layer for BTCFi yield and security
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b14g Security Update
At 09:29 UTC today, approximately 97M CORE staked through b14g was withdrawn without authorization and transferred to attacker-controlled addresses.
Upon discovery, we immediately paused the affected contracts. We are working closely with the Core team, security partners and exchanges to investigate the incident, trace the funds and coordinate freezing and recovery efforts.
Based on tracing so far, approximately 68M CORE remains on Core. Exchange partners have frozen approximately 9M CORE linked to the attacker.
The affected assets are CORE staked through b14g. BTC staked through b14g remains time-locked on Bitcoin and was not affected.
Our immediate priority is protecting users and recovering the affected funds.
Attacker addresses:
0xc556ed208285406d71705927f92d4f4eaea579f1
0x27758c30f8e424fbd8ca605bf31e9496c26ce92c
We will publish a detailed post-mortem covering the technical cause and impact, along with next steps for affected users. Further updates will follow as information is verified.
At 09:29 UTC today, approximately 97M CORE staked through b14g was withdrawn without authorization and transferred to attacker-controlled addresses.
Upon discovery, we immediately paused the affected contracts. We are working closely with the Core team, security partners and exchanges to investigate the incident, trace the funds and coordinate freezing and recovery efforts.
Based on tracing so far, approximately 68M CORE remains on Core. Exchange partners have frozen approximately 9M CORE linked to the attacker.
The affected assets are CORE staked through b14g. BTC staked through b14g remains time-locked on Bitcoin and was not affected.
Our immediate priority is protecting users and recovering the affected funds.
Attacker addresses:
0xc556ed208285406d71705927f92d4f4eaea579f1
0x27758c30f8e424fbd8ca605bf31e9496c26ce92c
We will publish a detailed post-mortem covering the technical cause and impact, along with next steps for affected users. Further updates will follow as information is verified.
As builders in BitcoinFi, this is the kind of infrastructure we've been excited to see.
Native BTC collateral connected to Aave deepest liquidity, without compromising Bitcoin's core principles.
Big respect to the @babylonlabs_io team for pushing this forward.
Native BTC collateral connected to Aave deepest liquidity, without compromising Bitcoin's core principles.
Big respect to the @babylonlabs_io team for pushing this forward.
Today, we published an ARFC on the @aave governance forum to propose native Bitcoin to Aave V4 as collateral through Babylon Trustless Bitcoin Vaults (TBV).
The proposal includes two new Aave V4 Spokes; Babylon Spoke and BTCVault Swap Spoke for borrowing and liquidation settlement, revenue sharing terms and AAVE, BABY buybacks.
If approved and implemented, Bitcoin holders can lock their native Bitcoin on the Bitcoin chain self-custodially, and use it as collateral to borrow supported assets on Aave V4, without wrapping, bridging, tri-party escrow, or sending their Bitcoin to third parties.
Risk parameters for both Spokes will be provided by Aave's risk service providers.
Subject to Aave governance review and approval.
governance.aave.com/t/arfc-onboard…View quoted post on X
