Scroll Halts Chain Finalization After $7 Million Rho Market Exploit – Crypto News – Crypto News
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Scroll Halts Chain Finalization After $7 Million Rho Market Exploit – Crypto News

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1 year ago

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The exploiter has sent the funds to a multi-sig wallet after what experts presume to be a white hat hack.

Rho Markets, one of the top 10 largest protocols built on Ethereum Layer 2 Scroll, has lost over $7 million in an exploit.

Scroll responded by delaying chain finalization until Rho Markets was able to take control over the exploit response efforts.

The hacker drained about $7.5 million, according to DeBank, and then sent an onchain message to the Rho Markets team that said their “MEV bot” profited from the protocol’s “oracle misconfiguration.”

“We understand that the funds belong to users and are willing to fully return,” the attacker’s message said. “But first we would like you to admit that it was not an exploit or a hack, but a misconfiguration on your end. Also, please provide what you are going to do to prevent it from happening again.”

There has been no public response from Rho Markets yet, however the hacker sent all of the $7.6 million in stolen funds to a multi-sig. It is yet to be determined whether or not that multi-sig is co-owned by Rho Markets.

Onchain sleuth ZachXBT said on X, the “exploiter has a ton of exposure to centralized exchanges so would say there’s a good probability this gets recovered and they are gray or white hat.

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