DeFi Protocol Rho Markets Recovers $7.6 Million After Complying With Exploiter’s Demands

Quick Summary:

Ethereum decentralized finance (DeFi) protocol Rho Markets informed users on Friday that $7.6 million worth of compromised user funds are now flowing back into the lending platform.

According to the entity that swiped users’ funds, price oracles that communicate crypto prices to Rho Markets’ protocol were improperly implemented.

A Rho Market dashboard indicated at the time that a total of $1.1 million and $2.3 million worth of the stablecoins Tether and USDC had been “borrowed” on the platform in amounts exceeding their listed supply.

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Article Details

Author / Journalist: Sofiya

Category: Crypto

Markets: India

Topics: Demands $7.6 Million Complying News Rho Markets Latest News Exploiter DeFi protocol Recovers

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-07-20 @ 07:19:02 (10 hours ago)

News Timezone: GMT +8:00

News Source URL: bitcoinworld.co.in

Language: English

Article Length: 689 words

Reading Time: 4 minutes read

Sentences: 32 lines

Sentence Length: 22 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © BitcoinWorld

News ID: 21691325

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About BitcoinWorld

Main Topics: Crypto

Official Website: bitcoinworld.co.in

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News Last Updated: 10 hours ago

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