Rho Markets hit with a $7.5 million potential exploit, Scroll blockchain halted

Scroll-based cash market Rho Markets misplaced over $7.5 million after being hit with a potential exploit. The pockets behind the incident drained over 2,203 ETH in 9 minutes. The crew at Scroll determined to quickly delay the blockchain finality, which is the reassurance {that a} transaction is immutable, to evaluate if the breach was application-specific. 

Blockchain finality was resumed after concluding that the potential exploit was contained on Rho Markets’ platform. Notably, blockchain sleuth ZachXBT highlighted an on-chain message from the brokers chargeable for the incident, explaining that an MEV bot profited from a “value oracle misconfiguration.”

“Hey RHO crew, our MEV bot have profited out of your value oracle misconfiguration. We perceive that the funds belong to the customers and are keen to completely return. However first we want you to confess that it was not an exploit or a hack, however a misconfiguration in your finish. Additionally, please present what are you going to do to stop it from taking place once more,” mentioned the message.

Excellent news everybody the exploiter despatched this message on-chain https://t.co/HA6YIgKalq pic.twitter.com/cRw56OtNTp

— ZachXBT (@zachxbt) July 19, 2024

Furthermore, ZachXBT added that the handle chargeable for draining has vital publicity to centralized exchanges, which implies “there’s a good chance” that the brokers are grey or white hat hackers, and the funds might be recovered. Over the previous 24 hours, Rho Markets misplaced practically $16 million in complete worth locked.