Azoundria: Created page with "{{Imported Case Study With About|source=https://www.quadrigainitiative.com/casestudy/solvprotocolnewtokentwitterxaccountphishing.php}} {{Unattributed Sources}} Solv Protocol Logo/HomepageSolv Protocol is an on-chain Bitcoin Reserve that bridges traditional finance (TradFi), centralized finance (CeFi), and decentralized finance (DeFi), enabling investors to generate returns on Bitcoin through products like SolvBTC and SolvBTC.LSTs. The prot..."

2025-02-10T22:29:55Z

Created page with "{{Imported Case Study With About|source=https://www.quadrigainitiative.com/casestudy/solvprotocolnewtokentwitterxaccountphishing.php}} {{Unattributed Sources}} thumb|Solv Protocol Logo/HomepageSolv Protocol is an on-chain Bitcoin Reserve that bridges traditional finance (TradFi), centralized finance (CeFi), and decentralized finance (DeFi), enabling investors to generate returns on Bitcoin through products like SolvBTC and SolvBTC.LSTs. The prot..."

New page

{{Imported Case Study With About|source=https://www.quadrigainitiative.com/casestudy/solvprotocolnewtokentwitterxaccountphishing.php}}
{{Unattributed Sources}}

[[File:Solvfinance.jpg|thumb|Solv Protocol Logo/Homepage]]Solv Protocol is an on-chain Bitcoin Reserve that bridges traditional finance (TradFi), centralized finance (CeFi), and decentralized finance (DeFi), enabling investors to generate returns on Bitcoin through products like SolvBTC and SolvBTC.LSTs. The protocol is backed by prominent investors such as Binance Labs and OKX Ventures, and has undergone security audits by leading firms. On January 5, 2025, Solv's official Twitter account was compromised, leading to the posting of a fraudulent Ethereum address, causing losses for many users. The post was reportedly removed within 15 minutes, and alerts were issued. The protocol repeatedly reminds users to always verify token addresses through official channels and expressed regret for the incident. In response to user complaints, Solv Protocol stated that they are working with @SlowMist_Team to investigate and recover the stolen funds. If recovery is not possible, they promise to compensate verified users.<ref name="solvprotocoltwitter-17988" /><ref name="solvfinance-17989" /><ref name="solvfinancedocs-17990" /><ref name="link3-17991" /><ref name="solvprotocoltwitter-17992" /><ref name="solvprotocoltwitter-17993" /><ref name="th3lfi5tmfi7vtwitter-17994" /><ref name="mig3218twitter-17995" /><ref name="kelvinwan8twitter-17996" /><ref name="hkbtc888twitter-17997" /><ref name="twitteranddiscord-17998" /><ref name="oneuserloss-17999" /><ref name="officialsources-18000" /><ref name="kusbhulaskar9twitter-18001" /><ref name="potentialtransaction-18002" /><ref name="bixbtagenttwitter-18003" /><ref name="bscscan-18004" /><ref name="solvprotocolmedium-18005" /><ref name="solv-18006" /><ref name="solvprotocol-18007" />

== About Solv Protocol ==
"Solv Protocol is the on-chain Bitcoin Reserve, bridging TradFi, CeFi, and DeFi to unlock the full potential of over $1 trillion in Bitcoin. Through SolvBTC and SolvBTC.LSTs (Liquid Staking Tokens), Solv enables both retail and institutional investors to generate returns on their Bitcoin—turning it from an idle asset into a yield-generating instrument that seamlessly integrates with the broader financial ecosystem, driving the next era of Bitcoin Finance.

Solv Protocol is backed by prominent investors such as Binance Labs, Blockchain Capital, Laser Digital, OKX Ventures, and others. Solv Protocol has undergone extensive security audits by leading firms, including Quantstamp, Certik, SlowMist, Salus, and Secbit."

== The Reality ==
This sections is included if a case involved deception or information that was unknown at the time. Examples include:

* When the service was actually started (if different than the "official story").
* Who actually ran a service and their own personal history.
* How the service was structured behind the scenes. (For example, there was no "trading bot".)
* Details of what audits reported and how vulnerabilities were missed during auditing.

== What Happened ==
The official X account of Solv Protocol was compromised. Multiple users lost funds due to phishing links which were posted.
{| class="wikitable"
|+Key Event Timeline - Solv Protocol New Token Twitter/X Account Phishing
!Date
!Event
!Description
|-
|January 4th, 2025 6:00:00 PM MST
|Alleged Time Of Breach
|The alleged time of the Twitter/X account breach happening, according to a later post on Twitter/X.
|-
|January 5th, 2025 6:00:00 AM MST
|Update From Solv Protocol
|Solv Protocol posts an update that their Twitter/X account was temporarily compromised today, but control has been fully restored. They are strengthening security to prevent future issues. Users are reminded to verify token addresses and links from official sources for safety. The team apologizes for any inconvenience and appreciates the continued trust.
|-
|January 7th, 2025 1:21:00 AM MST
|Solve Protocol Reimbursement Post
|Solv Protocol issued a security update. The claim the post was removed within 15 minutes, and alerts were sent out, but some users still experienced losses. Solv is working with @SlowMist_Team to investigate the breach, improve security, and recover the stolen funds. If recovery is not possible, Solv promises to compensate affected users for their losses.
|}

== Technical Details ==
This section includes specific detailed technical analysis of any security breaches which happened. What specific software vulnerabilities contributed to the problem and how were they exploited?

== Total Amount Lost ==
Limited details have been located on the actual amounts lost.

The total amount lost is unknown.

== Immediate Reactions ==
"On January 5, 2025, at 1:00 AM (UTC+0), Solv's official Twitter account was compromised, resulting in a fraudulent Ethereum address being posted. Within 15 minutes, we removed the post and issued immediate alerts across all channels. Unfortunately, some users incurred losses."

"Our Twitter account was briefly compromised earlier today. We’ve regained full control and are implementing enhanced security measures to safeguard against future incidents.

Reminder: Always double-check token addresses and links from official sources. Stay safe!

We deeply regret any inconvenience caused. Thank you for your understanding and continued trust."

"i lost money - and u write an excuse of check the ca?

we checked the twitter!

this is not suffice"
"Scammer protocol. You should airdrop the tokens and compensate for ppl losses. Otherwise no one will use your products. I know I wont"

"As a protocol operating at your level, how would anyone trust operating through you anymore! A mere X account was compromised probably causing many individuals to lose their funds via immediately investing with such an awaited TGE! You should compensate for lost funds with proof!"

"Hey, you didnt have responsibility to keep your official channel safe?? Put all the responsibility to user"

"Link from "official source"? Isn't it wrong to say that? This is the official Solv Protocol account, so which official account should we trust?"

== Ultimate Outcome ==
"We are actively collaborating with @SlowMist_Team to investigate the breach, enhance security measures, and recover the stolen funds. In the event recovery proves impossible, Solv will fully compensate verified affected users for their losses.

We deeply regret this incident and remain committed to transparency, security, and your trust.

Reminder: Always verify token addresses through official and trusted channels.

Thank you for your understanding and ongoing support."

== Total Amount Recovered ==
There do not appear to have been any funds recovered in this case.

What funds were recovered? What funds were reimbursed for those affected users?

== Ongoing Developments ==
What parts of this case are still remaining to be concluded?
== Individual Prevention Policies ==
{{Prevention:Individuals:Placeholder}}

{{Prevention:Individuals:End}}

== Platform Prevention Policies ==
{{Prevention:Platforms:Placeholder}}

{{Prevention:Platforms:End}}

== Regulatory Prevention Policies ==
{{Prevention:Regulators:Placeholder}}

{{Prevention:Regulators:End}}

== References ==
<references><ref name="solvprotocoltwitter-17988">[https://twitter.com/SolvProtocol/status/1875890047872053399 @SolvProtocol Twitter] (Accessed Feb 10, 2025)</ref>

<ref name="solvfinance-17989">[https://solv.finance/ https://solv.finance/] (Accessed Feb 10, 2025)</ref>

<ref name="solvfinancedocs-17990">[https://docs.solv.finance/ https://docs.solv.finance/] (Accessed Feb 10, 2025)</ref>

<ref name="link3-17991">[https://link3.to/solvprotocol Solv Protocol | Link3] (Accessed Feb 10, 2025)</ref>

<ref name="solvprotocoltwitter-17992">[https://twitter.com/SolvProtocol/status/1876544783507988566 @SolvProtocol Twitter] (Accessed Feb 10, 2025)</ref>

<ref name="solvprotocoltwitter-17993">[https://twitter.com/SolvProtocol/status/1876266064109261045 @SolvProtocol Twitter] (Accessed Feb 10, 2025)</ref>

<ref name="th3lfi5tmfi7vtwitter-17994">[https://twitter.com/TH3LFI5TMFI7V/status/1875965224525979924 @TH3LFI5TMFI7V Twitter] (Accessed Feb 10, 2025)</ref>

<ref name="mig3218twitter-17995">[https://twitter.com/MIG3218/status/1875890714837651611 @MIG3218 Twitter] (Accessed Feb 10, 2025)</ref>

<ref name="kelvinwan8twitter-17996">[https://twitter.com/KelvinWan8/status/1875924262508540310 @KelvinWan8 Twitter] (Accessed Feb 10, 2025)</ref>

<ref name="hkbtc888twitter-17997">[https://twitter.com/hkbtc888/status/1876070032314380757 @hkbtc888 Twitter] (Accessed Feb 10, 2025)</ref>

<ref name="twitteranddiscord-17998">[https://twitter.com/Ifeanyi_gmi/status/1875921665798050092 Ifeanyi_gmi - "How did your twitter and discord get hacked at same time" - Twitter/X] (Accessed Feb 10, 2025)</ref>

<ref name="oneuserloss-17999">[https://twitter.com/kusbhulaskar9/status/1875946463962034306 Anayat Hussain Laskar - "I have lost almost 300$ at bybit web3 wallet bcoz of ur X text, Now I am unable to swap or sale Solv protocol." - Twitter/X] (Accessed Feb 10, 2025)</ref>

<ref name="officialsources-18000">[https://twitter.com/evm0010/status/1875891513923875269 evm0010 - "Link from "official source"? Isn't it wrong to say that? This is the official Solv Protocol account, so which official account should we trust?" - Twitter/X] (Accessed Feb 10, 2025)</ref>

<ref name="kusbhulaskar9twitter-18001">[https://twitter.com/kusbhulaskar9/status/1875948154279055858 @kusbhulaskar9 Twitter] (Accessed Feb 10, 2025)</ref>

<ref name="potentialtransaction-18002">[https://bscscan.com/tx/0xc6b509043598f920ed0543c71d6028557ef86c56ccc64c6b53b347022c860676 Potential Theft Of 166.66 BSC-USD] (Accessed Feb 10, 2025)</ref>

<ref name="bixbtagenttwitter-18003">[https://twitter.com/bixbt_agent/status/1875891360861220940 @bixbt_agent Twitter] (Accessed Feb 10, 2025)</ref>

<ref name="bscscan-18004">[https://bscscan.com/address/0xa6c9fab2c3f551ca2b3622ce025c64f47f660fb6#tokentxns Address 0xa6c9fab2c3f551ca2b3622ce025c64f47f660fb6 | BscScan] (Accessed Feb 10, 2025)</ref>

<ref name="solvprotocolmedium-18005">[https://solvprotocol.medium.com/solv-token-launch-a-step-towards-the-future-of-bitcoin-finance-5fb64a69220b Solv Token Launch A Step Towards The Future of Bitcoin Finance] (Accessed Feb 10, 2025)</ref>

<ref name="solv-18006">[https://solv.foundation/claim Solv Foundation] (Accessed Feb 10, 2025)</ref>

<ref name="solvprotocol-18007">[https://solvprotocol.medium.com/ Solv Protocol Team – Medium] (Accessed Feb 10, 2025)</ref></references>

Solv Protocol New Token Twitter/X Account Phishing - Revision history