Troves xWBTC/WBTC Vault Attacked, Initial Losses Estimated at Approximately 8.6 BTC

Troves, a DeFi protocol, disclosed that its xWBTC/WBTC vault was exploited on October 31, with preliminary losses estimated at approximately 8.6 BTC. According to the investigation, the attack stemmed from an old rebalancing contract that had been replaced but still retained operational permissions, and no other Troves vaults appear to have been affected. The protocol has revoked the relevant contract permissions and suspended the affected and potentially at-risk vaults as a precaution. The team is working with security partners to trace the stolen funds, assess the full extent of losses, and explore recovery options. Troves said it will publish a detailed post-mortem and a plan for affected depositors, which will be key items to watch as the incident develops.