RocketSwap Has Shared Its Emergency Plan After Exploit Of $856K


RocketSwap Labs, the base project, has already put forward the emergency program that would help it bounce back from the hack that managed to swipe around 471 Ether, or close to $865,000 from the entire protocol on the 14th of August. The team then went on to explain on the 15th of August that they had planned on redeploying a new farm contract, which would then be open-sourced on-chain, thereby relinquishing the minting rights- mostly of RCKT- which they would soon call on the hackers to return the assets that have been hacked off the project.

On the 14th of August, the hacker managed to steal close to 471 ETH, which was then bridged from Base to Ethereum, according to PeckShield, the blockchain security firm. 

RocketSwap Labs Has Plans Of Securing Hacked Tokens

The hacker then went on to create the 90 trillion LoveRCKT tokens, which were further transferred over to Uniswap along with 400 ETH. The news of the hack was confirmed straight by RocketSwap Labs on the 14th of August, with PeckShield and CertiK, another blockchain security firm, providing far more additional details about the exploit just a few hours hence. The Labs also mentioned that they had attributed this exploit to the brute force attack on the server of the protocol

For those wondering, RocketSwap is a decentralized exchange on Base, which has plans of gradually becoming completely community-owned through a decentralized autonomous organization.