On September 27, the Bedrock staking platform reported a bug affecting uniBTC via an X post. The issue allowed users to trade uniBTC for ETH tokens. The platform's team has stated that the problem has been addressed and that all funds are safe.
Incident Description
On September 27, Bedrock informed through an X post about a security issue with uniBTC that allowed users to trade uniBTC for ETH tokens. While user funds are secure, the development team plans to introduce a reimbursement model, estimating losses of about $2 million.
Responsibility and Actions
Bedrock took responsibility for most of the losses, stating that the vulnerability involved decentralized exchange liquidity pools. The majority of funds, including wrapped Bitcoin and standard Bitcoin stored in reserves, are secure. The team is actively collaborating with auditors to recover the stolen tokens and has promised to publish an after-action report soon.
Current Price Trends of BTC and ETH
As of publication, the price of Bitcoin stands at $65,249.86 with a 24-hour trading volume of $36,691,579,179, showing a 3.85% increase. The price of Ethereum is $2,648.54 with a 24-hour trading volume of $16,826,193,042, up by 2.01% in the last 24 hours. Recent weeks have seen Bitcoin showing bullish movement, breaking the $53,000 support level.
The Bedrock team is actively working to recover the stolen funds and has promised full reimbursement to users. Current price trends of BTC and ETH show an upward trend for both assets.
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