Syndicate's Commons Bridge Exploited for $330K; SYND Slides 36% on Wednesday

According to CertiK, Syndicate's Commons bridge—the Ethereum infrastructure platform's official cross-chain bridge—suffered an exploit on Wednesday (April 29), resulting in at least $330,000 in losses. The attacker acquired approximately 18.5 million SYND tokens and sold them for about $330,000, which was then bridged to Ethereum.

SYND's price fell 36% to $0.022 following the incident. Syndicate said it is tracing the attack and engaging with security firms, adding it has sufficient tokens available to compensate affected users.