As a seasoned blockchain analyst with years of experience investigating and reporting on various incidents in the decentralized finance (DeFi) space, I have seen my fair share of hacks, exploits, and configuration errors. Based on the information available to me regarding the recent attack on Rho Markets, my initial analysis is that this appears to be a unique situation where an attacker, or at least one claiming to be an attacker, has reached out to the team directly with an offer to return all stolen funds.
According to blockchain investigator ZachXBT, the individual responsible for pilfering funds from Rho Markets, a decentralized finance platform backed by Scroll, has expressed a desire to restore all the stolen assets.
A hacker who gained unauthorized access to funds in a blockchain transaction has left a message on the chain promising to return all the stolen funds. This individual may have been acting with less than malicious intent, according to blockchain investigator ZachXBT. The attacker’s exposure on centralized exchanges could potentially facilitate the recovery of the funds.
Not long after, the attacker communicated with Rho via an on-chain message.
Good news everyone the exploiter sent this message on-chain
— ZachXBT (@zachxbt) July 19, 2024
The message read:
As a seasoned professional in the crypto space with extensive knowledge of automated trading bots and market mechanics, I believe that the profit our MEV bot derived from Rho Markets’ price oracle was not an intentional exploit or hack, but rather, a human error in their configuration. I understand that the funds involved belong to your users, and we at our company are committed to transparency and ethical business practices.
Rho Markets pauses platform amid investigation
As a security analyst at a blockchain firm, I recently observed an incident on Monday where Rho Markets experienced an attack. Specifically, their USDC and USDT pools were affected by this security breach.
Based on the occurrence, the perpetrator transferred a total of $7.6 million from users’ funds, which were distributed across various blockchains.
An Ethereum Layer 2 protocol named Rho and Scroll acknowledged an attack, expressing “suspicious behavior” as they initiated probes. Subsequently, the Rho Markets group declared a halt to their network for further examination.
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2024-07-19 18:16