Bedrock Protocol
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 · 10 linked investigationsTimeline(10 events)
2023-03-15
RockX publicly unveils Bedrock, a KYC/AML-compliant institutional liquid staking platform, via CoinDesk coverage.
CoinDesk2024-09-25
Bedrock deploys the uniBTC vault smart contract on Ethereum, less than 48 hours before it is exploited.
Dedaub / QuillAudits2024-09-26
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.
Dedaub2024-09-27
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 / CryptoNews2024-09-27
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 Defiant2024-09-27
Bedrock offers the attacker a job as a security consultant in an apparent white-hat outreach attempt.
CoinTelegraph2024-09-29
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 Today2025-02-01
Bedrock wraps up its Boyco campaign, reporting contribution of 1,000 uniBTC to Berachain's $3 billion TVL, indicating operational recovery.
PR Newswire2025-06-25
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.
CoinTelegraph2025-09-04
Bedrock announces launch of uniBTC and brBTC on the Aptos blockchain with ~$700 million TVL reported across 15+ chains.
PR NewswireDecision Log
- hash: CWDKUmp1BX1F3T56hoJay5SdKqDLDeen8jzxsDSsxPRz
This investigation is cryptographically anchored to the Solana blockchain and source URLs are archived via the Internet Archive.
model: claude-sonnet-4-6
generated: 6/1/2026, 5:46:59 PM
last updated: 6/1/2026, 5:47:04 PM
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