Rocketswap Crypto Exploit: Over $860k Lost in Brute Force Hack
Rocketswap, a decentralized exchange on the Coinbase native blockchain and Ethereum-based network Base, recently experienced a crypto exploit, resulting in the loss of over $860k of users’ assets. The incident was caused by a brute force hack on the server, which contained private keys related to the protocol. This security breach allowed hackers to gain control of the protocol’s farm feature and transfer a large volume of assets.
Key Points:
– Brute force hack on Rocketswap’s server led to the loss of users’ assets.
– Hackers stole 471 ETH, valued at $867,464.25, from Rocketswap and bridged it from Base to Ethereum.
– The hackers created a new token called “LoveRCKT” and supplied it to Uniswap decentralized exchange.
– Security firms Peckshield and Certik have confirmed the attack.
– Rocketswap has launched an emergency plan, including deploying a new farm contract and appealing to the hackers for the return of stolen assets.
Rocketswap Launches Emergency Plan:
Rocketswap’s developer has communicated an emergency containment program with their users. The plan includes deploying a new farm contract based on an open-source model, advancing the production reduction plan, and renouncing mining risks. The project team also intends to publicly appeal to the hackers for the return of the stolen assets.
Hot Take:
The crypto exploit on Rocketswap highlights the ongoing security challenges faced by decentralized exchanges. While the project aims to recover and strengthen its security measures, the incident serves as a reminder for users to exercise caution and conduct thorough research before participating in DeFi platforms.
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