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RocketSwap releases emergency plan after $865K exploit

RocketSwap releases emergency plan after $865K exploit

RocketSwap Labs has revealed its emergency plan to recover from a recent hack that resulted in the theft of $865,000 or 471 Ether (ETH) from the protocol. The team intends to redeploy a new farm contract and make it open-source on-chain, relinquish minting rights, and call on the hackers to return the stolen assets. The hacker bridged the stolen ETH from Base to Ethereum and created 90 trillion “LoveRCKT” tokens, transferring them to Uniswap along with 400 ETH. The exploit was confirmed by RocketSwap Labs, PeckShield, and CertiK. The hack was attributed to a brute force attack on the protocol’s server, leading to the transfer of the farm’s assets. RocketSwap Labs is a decentralized exchange on Base aiming to become community-owned through a decentralized autonomous organization.

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