Rocket, a Layer 1 blockchain, disclosed a September 5 on-chain attack that resulted in approximately $287,000 in losses. The attacker exploited a dormant perpetual market by posting artificially inflated price orders through a one-time account and trading against themselves, generating fake profits while bankrupting that account. The funds were then withdrawn via the Bridge. All deposits, withdrawals, and trading have been suspended. The team is cooperating with security firms, law enforcement, exchanges, bridges, and stablecoin issuers to trace and freeze the stolen assets. A recovery plan prioritizing small-account refunds is being developed, with details to be announced soon.
Rocket, a Layer 1 blockchain, said Tuesday it was hit by an on-chain attack on September 5, with losses landing at about $287,000. In the project's official statement, Rocket said the attacker abused a dormant perpetual market by setting up a one-time account, posting artificially inflated price orders, and trading against that same account. The result: fake profits piled up on the account, while the one-time account itself was pushed into insolvency.
After that, the attacker pulled about $287,000 in profit from the Bridge. So Rocket shut things down: deposits, withdrawals, and trading are all halted. The team said it is working with security firms and law enforcement agencies, while also coordinating with exchanges, cross-chain bridges, and stablecoin issuers to trace and freeze the stolen funds.
Rocket officials also said they are putting together a recovery plan, with small-account holders first in line for refunds. More details on the recovery process, they said, will be released as soon as possible.
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