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Morning Edition · Monday, September 21, 2026Published at 1:47 AM EDT · New York
Osmosis Took 74 Days to Notice Its Bitcoin Token Was 36 Percent Unbacked
A flaw in Nomic's forwarding logic minted 40.65 unbacked nBTC, and four other incidents disclosed this weekend trace to the same pattern of trusted inputs accepted without verification.
The most instructive security failure catalogued this week is not the largest one. An attacker exploited a flaw in the forwarding mechanism of Nomic, a bitcoin bridge into the Cosmos ecosystem, generating roughly 40.65 unbacked nBTC and mov…
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Bridge and Mint Exploits Sustain Heavy DeFi Losses
Over 3-6 months, recurring bridge proof-validation and unauthorized-mint exploits keep monthly DeFi losses elevated, including drains of deprecated contracts.
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More from this edition
- Aztec Says an Attacker Could Forge Valid Proofs on Its Privacy Network, Puts V5 Funds at Risk
- Liquid Network Stays Paused With 598 Bitcoin Unreturned After Software Approved an Unbacked Withdrawal
- Goldman Sachs and Citizens Name Coinbase and Circle as First Beneficiaries of the SEC's Tokenized-Stock Exemption
- Saylor Calls the Clarity Act's Failure a Win as Crypto Rules Revert to Agency Discretion
- Solana Cut Slot Times to 250 Milliseconds, Shrinking Every Validator's Leader Window to One Second
- Miden Launches a Private Finance Stack and a Self-Custodial Wallet That Proves Transactions on the User's Device
- Brussels Opens the Question of Regulating Staking, With Responses Due 30 September
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