ME News reports that on September 9 (UTC+8), Osmosis announced it has suspended the minting and redemption of synthetic BTC (alloyed BTC) due to an incident involving the Nomic nBTC cross-chain bridge; deposit and withdrawal functions have also been paused. On Osmosis, 30% of BTC is backed by nBTC. The team stated it will release a full incident report and recovery plan as soon as possible, and reminded users that BTC can still be traded within liquidity pools—please be aware of the risks. (Source: Foresight News)
Osmosis Pauses BTC Synthetic Asset Minting and Redemption Due to Nomic nBTC Bridge Incident
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Summary
Osmosis halted the minting and redemption of BTC synthetic assets on September 9 due to the Nomic nBTC bridge incident. Deposit and withdrawal functions are also paused. Approximately 30% of BTC on Osmosis is backed by nBTC. The team will release an incident report and recovery plan soon. Traders can still trade BTC in liquidity pools but should consider support and resistance levels and adjust their asset allocation accordingly. Risks remain high.
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