Rho Markets on Scroll Exploited, $7.6 Million in USDC and USDT Extracted

Jul 19, 2024, 12:39 PM

Rho Markets, a lending protocol on the Scroll chain, has been exploited, resulting in the extraction of $7.6 million. The affected pools include USDC and USDT. The root cause of the incident appears to be an oracle access control issue by a malicious actor. In response, Rho Markets has paused its platform to investigate the unusual activity. Scroll, which supports Rho Markets, has initiated a coordinated response and temporarily delayed the finalization of the chain to thoroughly assess the situation. The attacker has transferred assets worth approximately $7.5 million in ETH across multiple chains.