Wbtc

Every cirBTC is backed 1:1 by native BTC at a regulated Circle entity, with Chainlink Proof of Reserve verifying the float on chain. The launch is calibrated to siphon institutional flow away from WBTC and Coinbase's cbBTC.

A compromised operator key — not a smart-contract flaw — let the attacker drain three vaults on the Sui-based DeFi protocol, but Volo and ecosystem partners froze $500,000 within minutes and intercepted a $2.1 million WBTC bridge attempt.