Bedrock, a crypto liquid restaking protocol, suffered a security exploit resulting in a $2 million loss. The attacker, who took advantage of a smart contract vulnerability in uniBTC vaults, was offered a job by Bedrock to secure the protocol. Despite the bug being disclosed to Bedrock by Web3 security firm Dedaub, no action was taken. Bedrock is now working on a reimbursement plan for investors and collaborating with audit teams to recover the lost funds. The hacker, who could have stolen up to $75 million, was also offered a reward for the exploit. Similarly, Shezmu, a crypto lender, successfully negotiated the return of nearly $5 million from a hacker who exploited one of its stablecoin vaults. The hacker demanded a 20% bounty reward, which Shezmu agreed to, leading to the return of stolen funds. Both incidents highlight the importance of security measures in the crypto space. Read more AI-generated news on: https://app.chaingpt.org/news
