Incidents and Disputes @Bedrock $BR
The only publicly documented major incident is the hack on September 26, 2024. At that time, attackers exploited a logical flaw in the mint function of the synthetic token uniBTC, allowing them to mint synthetic BTC at an incorrect rate. As a result, approximately 650 ETH (~$1.7โ2 million) was stolen from exchanges and liquidity pools, along with smaller amounts in other assets. The incident is detailed in independent reports: Verichains recorded the attack on 09.26.2024 ($1.7M loss), QuillAudits identified the hacker's address and the attack scheme ($2M), and Dedaub revealed the timeline of the vulnerability report and the team's response (the flaw was found and reported shortly before the attack). Itโs noted that the hack only affected synthetic pools, while the underlying BTC reserves remained secure. The team quickly halted the uniBTC contracts, announced a compensation plan for the victims, and promised to implement stricter security measures. According to statements, the protocol's reputation has been preserved due to the timely response, and @Bedrock continues to meet its obligations to users. #geniusBedrock
#bedrock $BR
The only publicly documented major incident is the hack on September 26, 2024. At that time, attackers exploited a logical flaw in the mint function of the synthetic token uniBTC, allowing them to mint synthetic BTC at an incorrect rate. As a result, approximately 650 ETH (~$1.7โ2 million) was stolen from exchanges and liquidity pools, along with smaller amounts in other assets. The incident is detailed in independent reports: Verichains recorded the attack on 09.26.2024 ($1.7M loss), QuillAudits identified the hacker's address and the attack scheme ($2M), and Dedaub revealed the timeline of the vulnerability report and the team's response (the flaw was found and reported shortly before the attack). Itโs noted that the hack only affected synthetic pools, while the underlying BTC reserves remained secure. The team quickly halted the uniBTC contracts, announced a compensation plan for the victims, and promised to implement stricter security measures. According to statements, the protocol's reputation has been preserved due to the timely response, and @Bedrock continues to meet its obligations to users. #geniusBedrock
#bedrock $BR