wIRON on Base: Abnormal Bridge Issuance, 1:1 Backing Not Assured

Unknown. On-chain: one tx minted 2,382,830,000 wIRON; wIRON total supply on Base read ~2.79B on 28 Oct.

Root cause: Not yet published. Iron Fish says it is investigating abnormal wIRON issuance on Base and has requested an urgent review from ChainPort. How the mints were authorized (key compromise, deposit spoofing or other): Unknown.

Timeline, as sourced: 2.38B wIRON mint 27 Oct 2026 18:26:13 UTC (on-chain); Iron Fish statement 28 Oct 03:18 UTC. No ChainPort statement found.

Base, 27 Oct 2026. wIRON is Iron Fish's IRON bridged to Base through ChainPort.

Per Iron Fish (statement (opens in a new tab)): the team is investigating abnormal wIRON issuance on Base and has requested an urgent review from ChainPort. Avoid buying wIRON on Base or using the bridge until further notice; full 1:1 backing cannot be assured.

On-chain (read by NullMeridian via a public Base RPC, 28 Oct): a single transaction at 18:26:13 UTC on 27 Oct, sent by 0xfe834758…29d82 to the bridge contract 0x7ed090bb…3b7db, minted 2,382,830,000 wIRON to a fresh address (tx (opens in a new tab)). wIRON total supply on Base read ~2.79B on 28 Oct (token (opens in a new tab)).

Unknown: how the mints were authorized (key compromise, deposit spoofing or other), losses, and ChainPort's position. No ChainPort statement found.

Pattern: a lock-and-mint bridge with no supply cap trusts its relayer with the whole supply.