Threshold Network posted on X that at 18:04 (UTC+8) on May 18, an attacker attempted to mint tBTC without depositing underlying BTC, but the attempt failed; no invalid tBTC was created, and user funds were unaffected. As a precaution, Optimistic Minting has been temporarily paused, and minting is now conducted via the sweeping mechanism, extending the process time to approximately 6–7 hours. It is explained that tBTC’s security model relies on a decentralized signer network holding the underlying Bitcoin, with each native mint verified through a provable Bitcoin SPV proof.
Threshold Network Suspends Optimistic Minting Following Failed BTC Attack
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Summary
Threshold Network announced a network upgrade following a failed BTC update attempt on May 18 at 18:04 (UTC+8). An attacker attempted to mint tBTC without depositing real BTC, but the attack was unsuccessful. No invalid tBTC was created, and user funds were unaffected. Optimistic Minting is now paused, with minting performed via the sweeping mechanism, which takes 6–7 hours. The tBTC model relies on a decentralized signer network and Bitcoin SPV proofs to verify mints.
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