Deep Tide TechFlow News, May 01, Syndicate issued a statement indicating that Syndicate Labs previously experienced a security incident, where attackers maliciously upgraded cross-chain bridge contracts on two chains through compromised endpoints, resulting in approximately 18.5 million SYND tokens being transferred from the Commons cross-chain bridge and sold for about $330k, and about $50k worth of customer tokens being transferred on another application chain.

Syndicate stated that the root cause of the incident was a private key leak, and all affected parties have been fully compensated. The team will add an extra encryption layer to developer keys and plans to introduce hardware support or multi-signature signing, alerting, and circuit breaker mechanisms in the upgrade process.