Recent events have shown that the person who stole money from the Scroll-supported loan protocol Rho Markets has now offered to give it back. ZachXBT, a blockchain investigator, said that the attacker promised to return all the funds through an on-chain message, saying that the event wasn’t a hack but caused by a configuration mistake.
ZachXBT says it’s likely that the attacker is a “grey hat” or “white hat,” and stresses that the funds could be recovered because the attacker has a lot of exposure on centralized markets. After the attack, the attacker sent Rho Markets an on-chain message to explain what happened and what their plans were.
Rho Markets Attack Confirmation
“A configuration mistake in Rho Markets’ price oracle helped our MEV bot.” We know that these funds belong to users and are ready to give them back in full. But we want you to admit that this wasn’t a hack or attack; it was just a mistake in how you set things up. Additionally, please let us know what steps you will take to stop similar events from happening again, the attacker said.
A blockchain security company called Cyvers Alerts said earlier on Monday that Rho Markets had an attack that affected the protocol’s USDC and USDT pools. The hacker was able to move $7.6 million in user cash between several chains. The breach was confirmed by both Rho Markets and Scroll, an Ethereum Layer 2 protocol, which said they saw “unusual activity” and started investigations.
In reaction to the incident, Rho Markets said that the network would be temporarily shut down. They assured users that the platform would resume normal operations as soon as the problem was fixed. “Once everything is back to normal, the platform functions will be turned back on.” Rho Markets said, “Thank you for your patience and understanding.”
