Uniswap

Bitcoin

Silk Road

Base

RocketSwap

<div class="sg-post-des">
 RocketSwap Labs plans on reaching out to the exploiter on-chain, who stole an estimated $865,000 from the protocol on Aug. 14. 
</div> 
<div class="cointelegraph"> 
 Base <a rel="noopener noreferrer nofollow" title="project" href="https://thebittimes.com/tag/project.html">project</a> RocketSwap Labs has outlined its <a rel="noopener noreferrer nofollow" title="emergency" href="https://thebittimes.com/tag/emergency.html">emergency</a> programme to bounce back from a brute force hack which swiped $865,000 or 471 Ether (ETH) from the protocol on Aug. 14. 
 The team explained on Aug. 15 that they plan on redeploying a new farm contract and open-source it on-chain, relinquish minting rights — presumably of RCKT — and will soon call on the hackers to return the assets, among other things: 
 <blockquote class="twitter-tweet"> 
 The emergency programme agreed upon by the team is as follows. 1. We plan to redeploy a new farm contract by dropping the proxy contract and open sourcing it on-chain. 2. The new farm will advance the production reduction plan by 0.075 per block. 3. The team relinquishes…— RocketSwap (@RocketSwap_Labs) August 15, 2023 
 </blockquote> 
 On Aug. 14, a hacker stole approximately 471 ETH and bridged it from Base to Ethereum, according to blockchain security firm PeckShield. 
 The <a rel="noopener noreferrer nofollow" title="exploit" href="https://thebittimes.com/tag/exploit.html">exploit</a>er then created the 90 trillion “LoveRCKT” tokens and transferred them over to Uniswap along with 400 ETH, it explained. 
 <blockquote class="twitter-tweet"> 
 #PeckShieldAlert The @RocketSwap_Labs <a rel="noopener noreferrer nofollow" title="exploit" href="https://thebittimes.com/tag/exploit.html">exploit</a>er has grabbed ~471 $ETH and bridged them from #Base to #Ethereum, and then created the token $LoveRCKT, the <a rel="noopener noreferrer nofollow" title="exploit" href="https://thebittimes.com/tag/exploit.html">exploit</a>er already supplied 90T $LoveRCKT and 400 $ETH to #Uniswap https://t.co/z12YlLjbsn pic.twitter.com/Wxaph6lcuD— PeckShieldAlert (@PeckShieldAlert) August 15, 2023 
 </blockquote> 
 The news was confirmed by RocketSwap Labs on Aug. 14 at 11:06 UTC, with PeckShield and fellow blockchain security firm CertiK providing additional details about the <a rel="noopener noreferrer nofollow" title="exploit" href="https://thebittimes.com/tag/exploit.html">exploit</a> a few hours later. 
 Related: Zunami Protocol confirms stablecoin pools attacked, $2.1M loss estimated 
 RocketSwap Labs said attributed the <a rel="noopener noreferrer nofollow" title="exploit" href="https://thebittimes.com/tag/exploit.html">exploit</a> to a “brute force hack” of the protocol’s server: 
 <blockquote>
 “A brute force hack of the server was detected, and due to the proxy contract used for the farm contract, there were multiple high-risk permissions that led to the transfer of the farm's assets. We shut down the farm to prevent further damage.” 
 </blockquote> 
 RocketSwap is a decentralized exchange on Base, with plans to gradually become community-owned through a decentralized autonomous organization. 
 Magazine: $3.4B of Bitcoin in a popcorn tin — The Silk Road hacker’s story 
</div>

Base project RocketSwap shares emergency plan following $865K exploit

TheBitTimes

Other articles published on Aug 15, 2023

FTX 2.0: Relaunch Faces Serious Concerns from Kraken Co-Founder

A Deep Dive Into The Meme Coin Bull Run, Analyzing PEPE, Ethereum, And Big Eyes Infinity

Bitget Unlisted Luthra’s Account on Dumping of ReelStar Token

China Cracks Down on People Exploiting Filecoin Blockchain Rewards

Bitcoin Exchange Binance Files New Petition To Court In SEC Case! Here are the details!

5 Best Social Media dApps to Check, Holding Highest Volume

Join our free newsletter for daily crypto updates!