Bedrock, a multi-asset liquid staking protocol, recently disclosed a security breach involving uniBTC, resulting in a $2 million loss. The incident, addressed in a September 27 announcement, affected assets tied to uniBTC, a synthetic Bitcoin token utilized in DeFi. Despite the setback, Bedrock assured users that remaining funds were secure and outlined plans for reimbursement. The protocol emphasized that the compromised funds were primarily from decentralized exchange liquidity pools, affirming the safety of wrapped BTC tokens and standard Bitcoin reserves. Bedrock, known for products like uniETH and uniIOTX, targets institutional investors with stringent compliance measures. With over $240 million in total value locked, Bedrock ranks among the top liquid staking protocols. The rise of liquid staking, exemplified by Eigenlayer's success, underscores a growing trend in the crypto industry. Proposed changes aim to enhance Ethereum's Layer 2 scalability, potentially averting challenges in the future. Read more AI-generated news on: https://app.chaingpt.org/news