RocketSwap Hacker Launches MemeCoin
A hacker stole $870,000 worth of Ethereum tokens from RocketSwap on Base and used them to create a meme coin called $LoveRCKT on Uniswap. The hacker supplied 90 trillion $LoveRCKT tokens and 400 ETH for liquidity on Uniswap.
– Hacker stole $870,000 worth of Ethereum tokens from RocketSwap
– Created meme coin $LoveRCKT on Uniswap with 90 trillion tokens
– Used 400 ETH for liquidity on Uniswap
– $LoveRCKT price rose and then plunged
– Accusations that attack was orchestrated internally and a rug pull
RocketSwap Denies Rug Pull Allegations
RocketSwap denies accusations that the attack was a rug pull orchestrated internally. The exchange explains that its farms had an anomaly, and later its cloud servers were hacked, exposing private keys. The hacker emptied the farm and converted RCKT tokens to ETH.
– RocketSwap denies internal orchestration of the attack
– Farms had an anomaly and servers were hacked
– Hacker emptied the farm and converted RCKT tokens to ETH
– RocketSwap calls for the hacker to return stolen assets
– Outlines emergency plan to redeploy new farm contract
Base’s Security Concerns
Base, a decentralized exchange built on Coinbase’s new Layer 2 blockchain, has faced security concerns. Prior to its public launch, over $200 million worth of assets were transferred to Base. The recent RocketSwap and LeetSwap attacks have raised concerns about the network’s security.
– Base facing security concerns despite recent launch
– Over $200 million worth of assets transferred to Base
– RocketSwap and LeetSwap attacks raise security concerns
– Crypto community concerned about Base network’s security
– Questions about associated decentralized applications
Hot Take:
The RocketSwap hack and subsequent creation of $LoveRCKT highlights the ongoing security risks in the crypto space. It also raises questions about the security of Base and other decentralized exchanges. The crypto community must remain vigilant and hold platforms accountable for securing user funds.
Insa’s extensive background in the financial realm encompasses roles as a writer, trader, and personal finance coach. Her proficiency spans a wide spectrum, ranging from commodities and indices to forex and cryptocurrencies.Insa’s specialization lies in furnishing strategic investment advice tailored to the fintech investment niche.