The memo
REJECTED ON UNRESOLVED DISCLOSURE GAPS, NOT A NEGATIVE FINDING. enzoBTC is Lorenzo Protocol's omnichain wrapped-BTC token, mintable from native BTC, WBTC, or BTCB and held through three named custodians, but this review could not confirm the redemption mechanism or its timing, the custodian approval threshold, or any contract-level pause or freeze authority from primary sources. enzoBTC also inherits both the LayerZero and Wormhole messaging-layer dependencies this registry has separately rejected, and shares a named custodian, Cobo, with Function FBTC, also rejected in this registry — a concentration point across two products a client might otherwise treat as diversified. Absence of a negative finding is not sufficient evidence for approval when the basic facts needed to certify a position remain unconfirmed.
What would reopen the file
- Redemption mechanism, timing, and any gating conditions are independently confirmed and demonstrated at proposed size
- Custodian approval threshold and any contract-level pause, freeze, or upgrade authority are publicly disclosed and confirmed on-chain
- The May 2025 audit's firm, full findings, and remediation status are independently confirmed via a primary source
- Twelve consecutive months with no depeg, custody, or bridge-dependency incident affecting enzoBTC specifically
Facts on file
- Verdict
- Rejected
- Exposure
- other
- Chains examined
- Ethereum
- Instruments
- ENZOBTC
- Memo version
- v1
- Reviewed
- Next review