In a baffling turn of events, the executive of Bedrock, a crypto restaking protocol that was recently hacked for approximately $2 million, has gone ahead to offer the hacker a position in their company.
The foe took advantage of a weakness in a vacuum known as Bedrock’s uniBTC which is reported to have been unearthed by Dedaub the Web3 security firm a day a month ago. As per Dedaub, they had cautioned Bedrock regarding the situation but nothing was done.
“Unfortunately, even though we found the issue in the smart contract several hours before, by the time the team responded, the vulnerability had been exploited.”
Bedrock Acknowledges Security Breach
The criminals could have made away with as much as $75 million but they felt it was prudent to leave it at stealing $2 million. On September 27, Bedrock acknowledged the hack and said that it would reimburse the investors affected by the hack.
The team aims to recover the lost assets with the help of different audit companies and ethical hacking specialists. Even more bizarre, they attempted to contact the hacker directly through an on-chain message, offering compensation and a contract to help secure the protocol.
However, the hacker has not acknowledged their ultimatum. As some of the funds were misappropriated, Bedrock reassured the users that the funds that were left continue trading and that services will be resumed once the exploited flaw is resolved.
“We would like to communicate with you inviting you to become a white hat for the recent incidence. Would you be interested in working with us and making the protocol more secure?”
In another case, the crypto lender Shezmu recently managed to get back 5 million dollars after a straight settlement with the hacker who accessed one of its stablecoin vaults. Shezmu had offered a bounty of 10% in its initial offer for the return of the stolen funds, which was again the withdrawal amount.
Cryptoterrarium Байлас countered this demand and dug in their heels, demanding 20% which Shezmu agreed to. The funds were later returned by the hacker in parts including 282.18 Ether and 137 Wrapped Ether among other wipes. This offers the understanding that there is a recent pattern within the crypto space where protocols sit with their attackers after instances of breach.
