Rho Markets Hit by Potential $7.5M Exploit, Scroll Blockchain Shut Down

Key points

• Rho Markets lost over $7.5 million due to a potential exploit on the Scroll blockchain.
• Officials claim the problem was a misconfiguration of the price oracle, not a cyber attack.

Share this article

Scroll-based money market Rho Markets lost more than $7.5 million after being hit by a potential exploitation. THE wallet behind the incident drained over 2,203 ETH in nine minutes. The Scroll team decided to temporarily delay blockchain finality, or the guarantee that a transaction is immutable, to assess whether the breach was application-specific.

Blockchain finality was revived after concluding that the potential exploit was contained in Rho Markets’ platform. In particular, blockchain detective ZachXBT highlighted an on-chain message from the agents responsible for the incident, explaining that a MEV bot profited from a “price oracle misconfiguration.”

“Hello RHO team, our MEV bot profited from your price oracle misconfiguration. We know that the funds belong to the users and we are willing to return them in full. But first we would like you to admit that this was not an exploit or hack, but a misconfiguration on your part. Also, please indicate what you will do to prevent this from happening again,” the message read.

Also, ZachXBT added that the address responsible for the drain has significant exposure to centralized exchanges, meaning there is a “good chance” that the perpetrators are gray or white hat hackers and that the funds will be recovered. In the last 24 hours, Rho Markets has lost nearly $16 million in total locked value.

Share this article

Fuente