Oracle Exploit Drains $7.6 Million from Rho Markets, White-Hat Hackers Negotiate Return
Stablecoins USDC and USDT totaling over $7.6 million were withdrawn from the Rho Markets lending protocol, which operates on the Scroll blockchain. A group of white-hat hackers expressed their willingness to return the funds under certain conditions.
The cybersecurity company Cyvers identified the cause of the incident: third parties gained access to the protocol’s oracle. Rho Markets confirmed the presence of unusual activity on its platform and temporarily suspended operations.
According to researcher ZachXBT, the hackers claim that the funds were not stolen and are ready to return them in full. The perpetrators stated that their MEV bot profited due to a misconfiguration in the Rho Markets price oracle.
The hackers are willing to return the funds in full, provided that Rho Markets acknowledges the incident not as an exploit or hack but as a protocol configuration error. The cybercriminals also demanded that Rho Markets disclose the measures to be taken to prevent similar incidents in the future.
