PANews May 1 news, Syndicate issued an update regarding a previous security incident stating that the leakage of private keys led to malicious upgrades of bridging contracts on two chains, resulting in the theft of approximately 18.5 million SYND (around 330,000 USD) and about 50,000 USD in customer tokens. Affected users will receive full compensation, and SYND holders will also receive additional compensation. The attack involved multi-stage reconnaissance, infrastructure mapping, vulnerability exploitation development, and precise timing, ruling out the possibility of insider involvement. The root cause of the vulnerability was the storage of private keys in a password manager, and the upgrade process did not use multi-signature or hardware signing. Syndicate is strengthening security measures, including adding an encryption layer outside the password manager and implementing multi-signature or hardware signing for upgrade paths.

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