Nubit founder: The problem of fake TVL in Bitcoin ecosystem projects is that lock-ups can be forged through offline pre-signed transactions

CoinRank News: Yu Feng, founder of Nubit, said that many protocols in the current BTCFi ecosystem forge locks through offline pre-signed transactions. This method does not really lock Bitcoin on the main network, but gives an illusion of looking locked. Users can submit multiple pre-signed transactions with the same UTXO, allowing multiple protocols to count it as TVL, but in fact this Bitcoin is not really locked anywhere. This operation has led to false expansion of TVL and serious trust issues. Yu Feng, founder, proposed two solutions: one is to actually put the transaction on the chain and lock the funds through the Bitcoin script address; the other is to use zero-knowledge proof design to make the lock-up transparent and secure, avoiding the risk of double spending.