PANews reported on May 1st that Syndicate released an update regarding a previous security incident , stating that a private key breach led to a malicious upgrade of bridge contracts on two chains, resulting in the theft of approximately 18.5 million SYND tokens (approximately $330,000) and approximately $50,000 worth of client tokens. Affected users will receive full compensation, and SYND holders will receive additional compensation. The attack involved multi-stage reconnaissance, infrastructure mapping, exploit development, and precise timing, ruling out the possibility of insider involvement. The root cause of the vulnerability was that the private key was stored in the password manager, and the upgrade process did not employ multi-signature or hardware signatures. Syndicate is strengthening its security measures, including adding an encryption layer outside the password manager and using multi-signature or hardware signatures for the upgrade path.