Starknet DeFi Platform Troves Reports xWBTC Vault Exploit, Loss of 8.6 BTC - KuCoin
On October 31, Troves, a DeFi strategy platform on Starknet, announced that its xWBTC/WBTC vault had been exploited, resulting in an initial loss of approximately 8.6 BTC.
According to Troves' investigation, the exploit was limited to this specific vault, with no evidence of impact on other Troves vaults. The vulnerability stemmed from an outdated rebalance contract that retained permissions even after being replaced.
Response Measures
The team has revoked the problematic contract's permissions and proactively paused the affected and potentially exposed vaults. Within approximately 40 minutes of detecting the exploit, Troves removed all rebalance permissions from its LST vaults.
As a precautionary measure, the xWBTC/WBTC, xSTRK/STRK, and xstrkBTC/strkBTC vaults are currently paused.
Next Steps
Troves is continuing to assess the full scope of exposure and collaborating with security partners to track the funds and evaluate potential recovery options. The platform provides automated DeFi strategies on Starknet.
The team plans to publish a detailed post-incident analysis and options for affected depositors once verification is complete. This incident highlights ongoing security challenges in the decentralized finance sector.
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