Troves suffers attack, loses ~8.6 BTC; offers 1 WBTC white-hat bounty to attacker

On November 1, BTCFi protocol Troves announced that its xWBTC/WBTC vault was hacked early that morning, with preliminary estimates indicating losses of approximately 8.6 BTC. Initial investigations confirmed the attack affected only this single vault; no anomalies or damage were detected in any other Troves vaults. The root cause was traced to an outdated rebalancing contract—previously updated and replaced—yet still retaining operational permissions. The team immediately revoked all permissions associated with that contract and, prioritizing security, proactively paused operations for both the compromised vault and all potentially at-risk vaults. Troves is now collaborating with security partners to trace stolen funds on-chain and concurrently evaluating viable recovery pathways. Meanwhile, Troves has issued a white-hat invitation to the attacker via on-chain message: a reward of 1 WBTC will be offered if the full remaining stolen assets are returned within the stipulated timeframe. A comprehensive post-mortem report—including compensation plans and resolution details for affected depositors—will be published publicly in due course.