Fuzzland has confirmed that a security breach in September 2024, which led to $2 million in losses from Bedrock’s UniBTC system, was caused by one of its former team members.
According to a June 23 post on X, the former employee used a mix of social manipulation and hidden software tools to access confidential information. This information later helped them carry out the exploit.
The breach took place after an internal meeting where the vulnerability was discussed, but not treated as a serious concern.
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Fuzzland stated that the attacker had injected malicious code into the company’s systems. This code remained in place for several weeks without being noticed.
During that time, it gave the attacker access to private data, including details of a weakness in UniBTC that had been mentioned in a report by Dedaub, a third-party research group.
Although Fuzzland’s systems had flagged the issue, it was dismissed due to too many false alerts. The company said this allowed the attacker to act before the problem was properly addressed.
Fuzzland took full responsibility and paid Bedrock back for the amount lost. The company noted that no user or customer information was exposed during the attack. The affected systems were separated from areas that hold client data.
Following the incident, it partnered with ZeroShadow, a cybersecurity firm, to investigate what happened. Fuzzland is also working with Seal 911 and SlowMist to improve security practices across the industry.
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Having completed a Master’s degree in Economics, Politics, and Cultures of the East Asia region, Aaron has written scientific papers analyzing the differences between Western and Collective forms of capitalism in the post-World War II era.With close to a decade of experience in the FinTech industry, Aaron understands all of the biggest issues and struggles that crypto enthusiasts face. He’s a passionate analyst who is concerned with data-driven and fact-based content, as well as that which speaks to both Web3 natives and industry newcomers.Aaron is the go-to person for everything and anything related to digital currencies. With a huge passion for blockchain & Web3 education, Aaron strives to transform the space as we know it, and make it more approachable to complete beginners.Aaron has been quoted by multiple established outlets, and is a published author himself. Even during his free time, he enjoys researching the market trends, and looking for the next supernova.
