The Coinbase exchange’s local Blockchain network Base and DeFi platform Rocketswap (RCKT), which operates on Ethereum, were hacked. The decentralized financial platform suffered a loss of $ 860,000.
According to the Rocketswap team’s post just shared, the incident occurred due to a hacker attack on the protocol and server. The developers stated that hackers who pierced Security seized customer funds.
How Do Hackers Attack?
Peckshield has confirmed the DeFi incident that took place on the Coinbase-linked crypto network Base. The security tracker found that the hackers built a bridge between Base and Ethereum for Rocketswap, stealing a total of 471 ETH worth $860,000.
Hackers created a new Altcoin called “LoveRCKT” after the transfer. The hackers then moved the Tokens to Uniswap.
ETH-based blockchain network Base has been frequently coming up with altcoin units in recent days. The BALD meme coin tumbled a day after it was launched on the Base network. BALD initially rose 3,000% when it was launched. However, it lost more than 90% of its value the next day.
The Rocketswap team began implementing a contingency action plan in the wake of the incident. RCKT, the altcoin unit linked to the project, has lost 55% of its value since the beginning of the day.
parofix.com
According to the Rocketswap team’s post just shared, the incident occurred due to a hacker attack on the protocol and server. The developers stated that hackers who pierced Security seized customer funds.
The DeFi project has announced that it has disabled the Yield Farming feature, a means of passive income. Following the attack, blockchain security tracker PeckShield shared details about the incident.
How Do Hackers Attack?
Peckshield has confirmed the DeFi incident that took place on the Coinbase-linked crypto network Base. The security tracker found that the hackers built a bridge between Base and Ethereum for Rocketswap, stealing a total of 471 ETH worth $860,000.
Hackers created a new Altcoin called “LoveRCKT” after the transfer. The hackers then moved the Tokens to Uniswap.
ETH-based blockchain network Base has been frequently coming up with altcoin units in recent days. The BALD meme coin tumbled a day after it was launched on the Base network. BALD initially rose 3,000% when it was launched. However, it lost more than 90% of its value the next day.
The Rocketswap team began implementing a contingency action plan in the wake of the incident. RCKT, the altcoin unit linked to the project, has lost 55% of its value since the beginning of the day.
parofix.com
