Hacker Steals $2M from Crypto Project Bedrock

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Bedrock, a multi-asset liquid staking protocol, has confirmed that it has been a victim of a “security exploit” involving uniBTC, resulting in hackers stealing about $2 million in funds.

In a post on September 27, Bedrock acknowledged the security exploit involving uniBTC, a synthetic Bitcoin token used in DeFi, which led to the loss of approximately $2 million.

The team at Bedrock stated that they have addressed the issue and are taking measures to identify and resolve the root cause.

They reassured their users that their remaining funds are safe and that they will be implementing a reimbursement plan in the near future.

Bedrock also mentioned that they are finalizing a comprehensive reimbursement plan and will be sharing it along with a post-mortem report soon.

Bedrock clarified that most of the losses occurred in decentralized exchange liquidity pools and that the underlying wrapped BTC tokens and standard Bitcoin (BTC) held in reserves were not affected and remain secure.