Syndicate Hack Triggers 35% Drop in $SYND After Bridge Exploit

Syndicate confirmed that its Commons bridge was compromised, allowing an attacker to steal around 18.5 million SYND tokens and sell them for an estimated $330,000–$400,000 before bridging funds to Ethereum. Following the exploit, SYND plunged roughly 35% as panic selling hit the market. The incident matters because it highlights ongoing security risks surrounding cross-chain bridges and decentralized infrastructure. Syndicate says it is working with security firms to trace the attacker and has enough reserves to compensate affected users. Next, investors will watch for recovery measures, security upgrades, and whether confidence in the ecosystem can stabilize.