The crypto sector continues to face an alarming wave of cyberattacks, with a recent breach involving the Bedrock protocol adding to the growing list of DeFi exploits.
Bedrock Incident
Ten hours ago, Cyvers Alert, a digital asset monitoring platform, flagged a suspicious transaction linked to Bedrock, a DeFi multi-asset liquid restaking protocol. The attackers, funded through Tornado Cash, reportedly drained $1.7 million from the uniBTC pool, with 650 ETH still residing in the attacker’s wallet. Bedrock took nearly seven hours to address the issue publicly, assuring users that their wrapped BTC and reserves were secure. The protocol confirmed a total estimated impact of $2 million, primarily in decentralized exchange liquidity pools.
Hackers and Recovery
Meanwhile, a reimbursement plan is being finalized, and a post-mortem report will be released alongside a proof of reserves to ensure transparency. Bedrock is actively collaborating with white hat hackers and auditors to recover the stolen funds and prevent future attacks.
Other Incidents
Other platforms have also fallen victim to attacks. On September 25, Truflation suffered a sophisticated attack, resulting in a compromised safe address and a loss of 56,872,500 TRUF tokens, worth $4.6 million. The team is working with law enforcement to recover the stolen assets, having paused staking and limited liquidity on decentralized exchanges. On September 23, Bankroll Network lost $230,000 in an attack on the BNB Chain, while BingX Exchange suffered over $52 million in losses following a September 20 exploit. In another notable development, WazirX was granted a four-month moratorium by Singapore courts after complying with legal requirements under Section 64 of the Insolvency, Restructuring, and Dissolution Act (IRDA) following a major security incident.
The crypto community now faces heightened security concerns as hackers continue to exploit vulnerabilities across the ecosystem.
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