A lot of folks see a protocol that's been hacked and their first reaction is to write it off. But I'm starting to think more and more that the history of a protocol's incidents is one of the easiest pieces of information to misinterpret.
When it comes to Bedrock, I'm taking a closer look. Before it rolls out the 2.0 multi-asset, PoSL flywheel, it's had two incidents: in September 2024, the uniBTC contract had an over-minting bug that cost around two million dollars; then in June 2025, it faced a liquidity drain where over twenty addresses pulled out about forty-seven million in roughly a hundred seconds, causing the token price to get sliced in half. Putting these two incidents together does look rough, and anyone saying "no big deal" is just sugarcoating it.
But what I really want to emphasize is how to interpret this. Having been hacked once and what this incident actually tells you are two different things. First, I’ll check if these two issues are of the same type—one was a minting bug at the contract level, while the other was a liquidity event in the market; they’re not the same beast, which means it’s not the same pit that they keep falling into. Next, I’ll see how the team handled it: in June, they quickly made the problematic LP addresses public and provided liquidity support, they didn’t play dead. These actions tell you more than just "has it had issues". A protocol that has never been hacked might just not have faced serious attacks yet.
So, the two scars from @Bedrock actually help me sharpen my ability to read incidents: don’t treat "been hacked" as a checkbox to cross off, instead look at three things—are the two incidents of the same type, did the team respond positively at the time, and did they close off that type of vulnerability from the root? If they answer those well, the incident history is just tuition they’ve paid; if not, that’s the real landmine to avoid. Whether $BR is worth a shot, these two incidents aren’t the conclusion, they’re a set of samples that help you see the team’s quality more clearly. Whether it can avoid falling into the same trap again is far more important than whether it has fallen before. #bedrock $BR
When it comes to Bedrock, I'm taking a closer look. Before it rolls out the 2.0 multi-asset, PoSL flywheel, it's had two incidents: in September 2024, the uniBTC contract had an over-minting bug that cost around two million dollars; then in June 2025, it faced a liquidity drain where over twenty addresses pulled out about forty-seven million in roughly a hundred seconds, causing the token price to get sliced in half. Putting these two incidents together does look rough, and anyone saying "no big deal" is just sugarcoating it.
But what I really want to emphasize is how to interpret this. Having been hacked once and what this incident actually tells you are two different things. First, I’ll check if these two issues are of the same type—one was a minting bug at the contract level, while the other was a liquidity event in the market; they’re not the same beast, which means it’s not the same pit that they keep falling into. Next, I’ll see how the team handled it: in June, they quickly made the problematic LP addresses public and provided liquidity support, they didn’t play dead. These actions tell you more than just "has it had issues". A protocol that has never been hacked might just not have faced serious attacks yet.
So, the two scars from @Bedrock actually help me sharpen my ability to read incidents: don’t treat "been hacked" as a checkbox to cross off, instead look at three things—are the two incidents of the same type, did the team respond positively at the time, and did they close off that type of vulnerability from the root? If they answer those well, the incident history is just tuition they’ve paid; if not, that’s the real landmine to avoid. Whether $BR is worth a shot, these two incidents aren’t the conclusion, they’re a set of samples that help you see the team’s quality more clearly. Whether it can avoid falling into the same trap again is far more important than whether it has fallen before. #bedrock $BR