Staking platform Bedrock loses $2 million after bug that allowed users to trade Bitcoin and Ethereum 1:1

A security firm working with Bedrock tried to alert Bedrock hours before the attack, but the team was asleep. The vulnerable contracts had been deployed a day and a half before the attack and had not been audited.

Fortunately for Bedrock, security groups were able to shut down third-party projects around Bedrock, which helped limit the losses – which ultimately could have been as large as the entire value of the protocol’s funds.