Rocket L1 blockchain suffered an exploit on September 5, resulting in losses of approximately $287,000. The attacker exploited a dormant perpetual market by placing artificially inflated orders through a disposable account, generating fake profits and causing the account to become insolvent. Funds were then drained from the Bridge. The team has suspended all deposits, withdrawals, and trading, and is collaborating with security firms, law enforcement, exchanges, bridges, and stablecoin issuers to trace and freeze the stolen funds. A recovery plan prioritizing small-account refunds is being developed.
Rocket, a Layer-1 blockchain, said on September 5 that it had found an on-chain exploit that led to roughly $287,000 in losses. So yes, all deposits, withdrawals, and transactions are now paused.
The attacker used a dormant perpetual market on Rocket and set up a disposable account. Then they posted artificially inflated price orders and traded against themselves, booking fake profits while pushing the disposable account into insolvency. After that, the funds were pulled out through the Bridge.
The team says it is now working with security firms and law enforcement, while also coordinating with exchanges, cross-chain bridges, and stablecoin issuers to trace and freeze the stolen assets. A recovery plan is being put together, and refunds to smaller accounts are set to come first.
This article was originally published by Bit.Fan. For more cryptocurrency news and market insights, visit www.bit.fan. Disclaimer:
The market information, project data, and third-party content displayed on this platform are for industry information sharing only and do not constitute any form of investment advice or return commitment.
Cryptocurrency trading carries high risks. Users should fully assess their risk tolerance and make independent decisions. All profits, losses, and legal responsibilities are borne by the users themselves.
