Official announcements from Rho Markets or blockchain transaction records

Rho Markets Exploited for $7.6M via Oracle Vulnerability, Scroll Halts Chain Finalization

Jul 19, 2024, 01:05 PM

Rho Markets, a platform on the Ethereum Layer 2 solution Scroll, has been exploited, resulting in the extraction of $7.6 million. The exploit targeted USDC and USDT pools through an Oracle access vulnerability, and the platform appears to be another Compound fork. In response, Scroll has temporarily delayed the finalization of its chain to assess the situation. The attacker has transferred the funds to a multi-sig wallet and has offered to return all the funds, claiming the incident was not a hack or exploit. Experts suggest it may have been a white hat hack.