Bedrock Protocol Hit By $2M Security Exploit Targeting UniBTC

Bedrock Protocol, a multi-asset liquid staking platform, has been hit by a security exploit resulting in a loss of approximately $2 million. The incident occurred on September 27 and targeted uniBTC, a synthetic Bitcoin token used in decentralized finance.

The breach is the third consecutive hack in recent days following the BingX $50 million breach and the Truflation $4.6m malware attack. Bedrock confirmed the security exploit via a post on X, stating that the root cause had been 'handled'.

Most losses occurred in decentralized exchange liquidity pools, but Bedrock reassured users that all remaining funds were safe. The protocol plans to issue a reimbursement plan soon and has clarified that underlying wrapped BTC tokens and standard Bitcoin held in reserves remained secure.