Bedrock Offers a Job To The Hacker Who Steals $2M

Bedrock Loses $2M In Hack, Offers Job Instead of a Fight To The Hacker

Bedrock Faces $2M Heist from Smart Contract Exploit

On September 26, Web3 security firm Dedaub identified a vulnerability in Bedrock's uniBTC vaults, which led to a $2 million exploit. The firm reported the bug to Bedrock, but the team was slow to respond, allowing the hacker to take advantage of the flaw. Although the attacker could have stolen up to $75 million, they only withdrew $2 million.

Hacker Offered Job by Bedrock

In an unexpected move, Bedrock reached out to the hacker through an on-chain message on Etherscan, inviting them to work with the protocol as a white hat. Bedrock expressed interest in offering the hacker a job to enhance security measures and prevent future attacks. The team also offered a reward for the exploit but had not received a response at the time of writing.

Efforts to Recover Stolen Funds

Bedrock reassured its users that all remaining funds were safe and paused staking on the uniBTC vaults until the vulnerability was fully addressed. The protocol is currently collaborating with audit teams and white hats to recover the lost funds and protect its ecosystem. In addition, Bedrock is working on a reimbursement plan to compensate investors affected by the hack.

Crypto Protocols Negotiate with Hackers for Fund Recovery

This isn't the first time a crypto protocol has reached out to hackers to recover funds. Recently, Shezmu, a crypto lender, managed to recover $5 million after an on-chain negotiation. The hacker initially demanded a 20% bounty, double Shezmu's original offer of 10%. After reaching an agreement, Shezmu successfully retrieved its stolen assets.

Bedrock’s Next Steps

As the hacker has yet to respond, Bedrock continues to focus on strengthening its protocol, ensuring such vulnerabilities do not repeat. The team remains committed to protecting user funds and reactivating staking operations once the security issues are fully resolved.

Read More: $HMSTR Perpetual Futures Trading on Coinbase Amid Price Slump