No subject dropping $2 million in a clear contract exploit, Bedrock equipped the hacker a characteristic to relieve safe its protocol and recover stolen funds.
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Crypto liquid restaking protocol Bedrock lost roughly $2 million in a security exploit. In return, the attacker became as soon as equipped the job of securing the very protocol it stole from.
On Sept. 26, Web3 security firm Dedaub chanced on a clear contract vulnerability in multiple uniBTC vaults of Bedrock. Constant with Dedaub, the worm became as soon as disclosed to Bedrock nevertheless no action became as soon as taken primarily based on the chance. The safety firm added:
“Unfortunately, even supposing we chanced on the relate within the clear contract loads of hours earlier than, by the level the crew replied, the vulnerability had been exploited.”
The vulnerability became as soon as exploited for roughly $2 million loss. On the different hand, the attacker had the different to rob up to $75 million from the uniBTC vaults.
Offer: Bedrock
On Sept. 27, Bedrock acknowledged the hack and acknowledged the protocol is organising a reimbursement thought to recoup investors’ losses. Moreover, Bedrock revealed working “with audit teams and white hats to recover the lost funds.”
Trying a novel draw to funds restoration
Moreover, Bedrock also tried to contact the hacker via an onchain message chanced on on the Ethereum blockchain analytics platform, Etherscan.
Bedrock provides a white hat job to the hacker. Offer: Etherscan
Bedrock asked the hacker:
“We would really like to keep in touch with you animated you to changed into a white hat for the fresh incidence. Would you be drawn to working with us and making the protocol safer?”
The hacker became as soon as also equipped a reward for the $2 million uniBTC vault exploit. On the different hand, the hacker had no longer replied to the message at the time of this writing.
The Bedrock crew assured users that the present funds were safe and dedicated to unpause staking on uniBTC contracts as soon as the vulnerability became as soon as neutralized.
Connected: Coinbase-backed Truflation confirms hack, losses estimated to be $5M
Crypto lender Shezmu currently recovered practically $5 million from a hacker after a profitable onchain negotiation.
Negotiating inspire stolen funds
After confirming that undoubtedly one of its ShezmuUSD (ShezUSD) stablecoin vaults became as soon as exploited, Shezmu proactively suggested the hacker to return the funds in alternate for a 10% bounty reward without a ethical repercussions.
Offer: Shezmu
On the different hand, the hacker replied to the query by tense a 20% bounty reward rather than the preliminary 10% offer, which Shezmu agreed to.
Shezmu’s crew negotiates the return of stolen funds with the hacker. Offer: Etherscan
