Decrypt - A security exploit on the Bedrock staking protocol allowed users to swap uniBTC with Ethereum at an incorrect 1:1 ratio, resulting in a loss of approximately $2 million

https://decrypt.co/283440/staking-protocol-bug-let-users-swap-one-bitcoin-for-one-ethereum

A security exploit on the Bedrock staking protocol allowed users to swap Universal Bitcoin (uniBTC) with Ethereum at an incorrect 1:1 ratio, despite a significant price difference.

This resulted in a loss of approximately $2 million for the protocol, mostly from decentralized exchange liquidity pools.

The vulnerability was a result of a recent contract upgrade that was not audited before deployment.

The protocol is working to recover the lost funds and has implemented a reimbursement plan.

Users are advised to be vigilant and avoid interacting with the Bedrock protocol until further notice.