What happened
On September 27, 2024, liquid restaking protocol Bedrock suffered a $2 million exploit related to its synthetic Bitcoin token, uniBTC. The protocol confirmed that the vulnerability had been addressed, and all remaining assets were declared safe.
The exploit targeted Bedrock’s uniBTC, a synthetic Bitcoin token used in decentralized finance (DeFi) staking. Hackers managed to siphon approximately $2 million from decentralized exchange liquidity pools, exploiting a vulnerability in the smart contract that handled the token’s staking mechanism. However, Bedrock reassured users that the underlying assets—wrapped BTC and standard Bitcoin held in reserves—were unaffected.
The protocol quickly took measures to address the security flaw and ensure that no further losses occurred. Bedrock’s team is preparing a comprehensive post-mortem report alongside a reimbursement plan for affected users.
Exploiter:
https://etherscan.io/address/0x2bFB3730…BE9F96
Exploit tx:
https://etherscan.io/tx/0x725f0d65…177940
Case & protocol details
Evidence & learning
Sources and on-chain records
- report Report x.com
- report Report cointelegraph.com
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