Key Takeaways
- Wolf said it has locked 57% of its total token supply, worth around $13 million, for two years following a $600,000 bridge exploit.
- An early investor of the token also dumped approximately 2% of the total supply.
- Wolf’s leadership says the challenges have pushed it to enforce “zero-trust” security principles and stricter vendor controls.
Defi project Wolf said it has locked 57% of its token supply for two years after a $600,000 bridge exploit and a subsequent sell-off by a large holder.
Bridge Exploit and Early Sell-Off
In a statement on Thursday, the company confirmed a “trusted contractor” retained unauthorized access to Wolf’s Ethereum bridge and used it to mint unbacked ETH-WOLF tokens, reportedly draining over $600,000 in liquidity.
The incident, which occurred in late September, was then followed by an early investor dumping approximately 2% of the total supply after refusing to participate in a non-disclosure agreement–backed lock-up plan.
Wolf said both issues have been “mitigated,” and the bridge has now been fortified.
The project claimed that 57% of all WOLF tokens, valued at around $13 million, have now been locked for two years on the token management platform Streamflow.
The company said the lock is intended to reduce selling pressure and show long-term commitment.
Independent verification of the fix has not been provided, and the firm did not specify whether law enforcement had been notified about the exploit.
Wolf’s Leadership Responds
Wolf’s public-facing team, Siraaj Ahmed as CEO and Robert Freeman as CTO, under the parent company Byrrgis, says it is implementing stricter vendor controls and “zero-trust” security principles across its infrastructure.
“With the broader whale community now aligned, WOLF has unmatched stability moving forwards,” “Siraaj Ahmed, CEO of Byrrgis and Wolf, said.
Adding: “Combined with the decisive action taken to resolve the ETH bridge incident, we’re aiming to set a new benchmark for transparency and accountability in DeFi.”
Amy Cooksey, CMO of Byrrgis and Wolf, also said that the response will help build “resilience at every layer, where communities can see alignment, trace commitments, and trust that the system is stronger than any single actor.”
“That’s how Byrrgis differentiates itself: not by avoiding challenges, but by facing them head-on and emerging stronger,” she added.
Editor’s note: This story was corrected on October 10, 2025, to clarify that the Wolf/Byrrgis project is unrelated to Hayden Davis’s WOLF meme coin.
Kurt Robson is a London-based reporter at CCN, specialising in the fast-moving worlds of crypto and emerging technology. He began his career covering local news in Cornwall after graduating from Falmouth University with First Class Honours in Journalism. There, he cut his teeth on everything from council meetings to missing swans.
He quickly rose through the ranks to become a frontline journalist at several of the UK’s leading national newspapers. Over the years, he has interviewed musicians and celebrities, reported from courtrooms and crime scenes, and secured multiple front-page exclusives.
Following the upheaval of the COVID-19 pandemic, Kurt shifted his focus to technology journalism—just ahead of the AI boom. With a natural curiosity and a trained eye for emerging trends, he has found a new rhythm in reporting on innovation.
At CCN, Kurt's work focuses on the cutting edge of crypto, blockchain, AI, and the evolving digital world. Drawing on his background in people-first reporting and his deep interest in disruptive tech, Kurt delivers stories that are insightful, entertaining, and human-centric.
