Starknet strategy platform Troves claims that the xWBTC treasury was exploited, resulting in a loss of approximately 8.6 BTC

On October 31, the DeFi strategy platform Troves on Starknet announced that its xWBTC/WBTC treasury was exploited that day, resulting in an initial loss of approximately 8.6 BTC. Troves stated that, according to the investigation as of the time of the announcement, the exploitation was limited to that treasury, and no impact on other Troves treasuries had been found.

Troves mentioned that the exploitation involved an old rebalancing contract that retained permissions even after being replaced. The team has revoked the relevant contract permissions and proactively paused the affected and potentially exposed treasuries. The team is continuing to verify the extent of the exposure and is tracking funds with security partners to assess possible recovery options.

Troves later updated that approximately 40 minutes after discovering the exploitation, the problematic old contract was revoked, and all rebalancing permissions on its LST treasury were revoked. As a precaution, the three treasuries xWBTC/WBTC, xSTRK/STRK, and xstrkBTC/strkBTC are currently in a paused state. Troves provides automated DeFi strategies on Starknet, and the team stated that a detailed post-analysis and options for affected depositors will be announced after verification.