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Bedrock Protocol

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[AI-DRAFTED · AWAITING VERIFICATION]

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anchored·582bLM…wA4w

Summary

Bedrock Protocol is a multi-asset liquid restaking protocol developed by RockX, offering synthetic Bitcoin (uniBTC), liquid-staked ETH (uniETH), and IoTeX staking (uniIOTX). On September 27, 2024, the protocol suffered a critical smart contract exploit in which a flawed minting function allowed an attacker to mint uniBTC tokens at a 1:1 ETH-to-BTC ratio, draining approximately $2 million from DEX liquidity pools. Subsequent investigation by security firm Fuzzland, disclosed in June 2025, alleged that a former Fuzzland employee planted a supply-chain backdoor to execute the attack; Fuzzland stated it compensated Bedrock for losses and reported the matter to law enforcement.

Connected Entities

1 entities
Protocols
⌂Bedrock Protocol
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    Have evidence about Bedrock Protocol?

    Timeline(10 events)

    15 March 2023

    RockX publicly unveils Bedrock, a KYC/AML-compliant institutional liquid staking platform, via CoinDesk coverage.

    CoinDesk

    25 September 2024

    Bedrock deploys the uniBTC vault smart contract on Ethereum, less than 48 hours before it is exploited.

    Dedaub / QuillAudits

    26 September 2024

    Dedaub security team discovers and simulates the uniBTC minting vulnerability at approximately UTC 16:00 and reports it to Bedrock on Twitter at UTC 16:27; a SEAL 911 war room is created at UTC 16:41.

    Dedaub

    27 September 2024

    First exploit transaction is executed at approximately UTC 18:28. Attacker (0x2bFB3730...) mints uniBTC at a 1:1 ETH-to-BTC ratio and drains roughly $2 million from Uniswap and DEX liquidity pools. uniBTC price drops approximately 55% against Bitcoin spot price.

    QuillAudits / CryptoNews

    27 September 2024

    Bedrock pauses the uniBTC contract, halting all minting and transfers. Protocol confirms underlying BTC reserves are safe and commits to a reimbursement plan. Pendle Finance and Corn Protocol also pause operations proactively.

    Bedrock Official X / The Defiant

    27 September 2024

    Bedrock offers the attacker a job as a security consultant in an apparent white-hat outreach attempt.

    CoinTelegraph

    29 September 2024

    Bedrock announces integration of Chainlink Proof of Reserve into its minting function as a security upgrade, alongside plans for third-party audits and 24/7 smart contract monitoring.

    CryptoBriefing / Chainlink Today

    February 2025

    Bedrock wraps up its Boyco campaign, reporting contribution of 1,000 uniBTC to Berachain's $3 billion TVL, indicating operational recovery.

    PR Newswire

    25 June 2025

    Fuzzland publicly discloses that an alleged former employee planted a supply-chain backdoor (malicious Rust crate `rands`) to execute the September 2024 Bedrock exploit. Fuzzland states it compensated Bedrock for losses, engaged zeroShadow for forensic investigation, and filed reports with the FBI and Chinese law enforcement.

    CoinTelegraph

    4 September 2025

    Bedrock announces launch of uniBTC and brBTC on the Aptos blockchain with ~$700 million TVL reported across 15+ chains.

    PR Newswire
    Provenance & Audit Trail
    Anchored on SolanaVerify on-chain15 Wayback Archives

    Decision Log

    This investigation is cryptographically anchored to the Solana blockchain (3 events). 15 of 18 cited source URLs have an Internet Archive snapshot.

    full audit log →version history →

    model: claude-sonnet-4-6

    generated: 6/1/2026, 5:46:59 PM

    last updated: 7/26/2026, 8:02:44 AM

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