Syndicate Suffers Exploit via Commons Bridge; SYND Price Drops 36%

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Release Time: 04/29/2026 08:51:36

SYND

$0.0195-7.14%

Summary

Syndicate reported a security breach through its Commons Bridge, resulting in losses of at least $3.3 million. CertiK confirmed the attacker sold 18.5 million SYND tokens before bridging them to Ethereum. SYND’s price dropped 36% to $0.022, according to CoinGecko. The incident increases pressure on altcoins as market sentiment shifts. Ethereum’s price remained stable amid the cross-chain bridge exploit.

CoinDesk reports:

According to blockchain security firm CertiK, the Ethereum infrastructure platform Syndicate (used for building rollups and sequencers) suffered a vulnerability exploit resulting in losses of at least $330,000.

On Wednesday, Postal Syndicate stated on X that it detected unusual volatility in its native SYND token, which may be related to a compromise of the Commons Bridge (Syndicate’s official cross-chain bridge).

The Syndicate team said: "We are tracking this attack and communicating with security firms. We are also exploring ways to compensate users for their losses. Syndicate has sufficient tokens to assist users who lost SYND."

CertiK has flagged that the attacker acquired approximately 18.5 million SYND, sold them for around $330,000, and then bridged them to Ethereum.

According to CoinGecko data, following the event, as of 3:20 AM Eastern Time on Wednesday, SYND's price dropped 36% to $0.022.data

The Block has reached out to Syndicate for more information.

This is a developing news story.

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