In response to the recent brute force hack that resulted in the theft of over $865,000 or 471 Ether (ETH) from the RocketSwap Labs protocol on August 14th, the project has unveiled its emergency program to recover from the incident.
RocketSwap is a decentralized exchange built on the Base mainnet recently launched by Coinbase. The hack represents a significant security breach, and RocketSwap Labs is taking swift action to reduce the damage and ensure the security of its platform and users’ funds.
The hack that occurred on August 14, 11:06 UTC, involved the theft of around 471 Ether (ETH) from the Base project’s protocol. The attacker took advantage of a vulnerability to move these stolen funds from the Base blockchain to the Ethereum blockchain. This transition was identified and reported by the blockchain security company PeckShield.
After executing the hack, the attackers created a token called “LoveRCKT.” The attacker then proceeded to transfer 90 trillion LoveRCKT and 400 ETH to Uniswap.
In its tweet RocketSwap also requested the hacker to return the amount to the victim. However, there was no mention of a bounty or rewards as an incentive for the attacker to turn into a good samaritan.