#Bedrock Protocol Hit by $2M Exploit 🥷

👀Liquid restaking protocol Bedrock confirmed it suffered a security exploit involving uniBTC, leading to a $2 million loss.

The team addressed the root cause and assured users that all remaining #assets are safe.

Losses primarily occurred in decentralized exchange #liquidity pools. A reimbursement plan is being finalized, along with a post-mortem report. 🗒

Wrapped $BTC and standard #Bitcoin❗ reserves remain secure. 🧐

Bedrock has over $240 million in total value locked (TVL).#BinanceLaunchpoolHMSTR

#BNBChain announces #Avalon Finance and #Bedrock as winners of the second #BNB Incubation Alliance round. #Binance

The #Bedrock liquid restaking protocol has suffered an #exploit resulting in a $2 million loss. The exploit was discovered in the protocol's smart contract code, leading to unauthorized withdrawals.
The Bedrock team is currently investigating the situation and has taken steps to prevent further losses by pausing the protocol.
#Binance #restaking #TrendingTopic