DeFi Protocol Rho Markets Suffers $7.6 Million Loss Scare With Gray Hat Hackers

Quick Summary:

In an interesting turn of events, Rho Markets, a lending protocol based on the Ethereum layer two networks Scroll, has had a daunting experience with grey hat hackers involving the temporary loss of $7.6 million in users’ assets.

However, the hackers soon sent an on-chain message showing a willingness to return the stolen funds, however on a given condition.

Moving forward, they intend to refund their USDC, USDT, and WETH pools, as well as identify all active supply accounts at the time the attack occurred.

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Article Details

Author / Journalist: Semilore Faleti

Category: Crypto

Markets: Hungary

Topics: Rho Markets Crypto News Scroll Oracle control Ethereum Hack Gray Hat hackers

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-07-20 @ 16:00:29 (10 hours ago)

News Timezone: GMT +8:00

News Source URL: bitcoinist.com

Language: English

Article Length: 404 words

Reading Time: 3 minutes read

Sentences: 28 lines

Sentence Length: 15 words per sentence (average)

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

Copyright Owner: © Bitcoinist

News ID: 21695196

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Official Website: bitcoinist.com

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Headquarters: Hungary

News Last Updated: 12 hours ago

Coverage Areas: Hungary

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