Bedrock reports a $2 million loss due to a hacking attack on the synthetic token uniBTC. The platform stated that measures have been taken to address the vulnerability.
Incident Description
On September 27, Bedrock reported a hacking attack on the synthetic token uniBTC used in DeFi, resulting in an approximate $2 million loss.
Measures Taken
Bedrock assured users that all remaining funds are safe and that a reimbursement plan and incident report will be released soon. The platform clarified that most of the losses occurred in decentralized exchange liquidity pools. The underlying BTC tokens and standard Bitcoin held in reserves remain secure.
About Bedrock Platform
Bedrock is a multi-asset liquid restaking protocol launched in February 2023 by Singapore-based RockX. The platform offers synthetic tokens like uniBTC, uniETH, and uniIOTX, allowing users to earn yield through staking. According to DefiLlama data, Bedrock ranks eighth among liquid staking protocols with a total value locked (TVL) exceeding $240 million.
The Bedrock incident highlights the importance of security in the DeFi ecosystem. Companies continue to evolve their protocols to prevent similar attacks in the future.
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