Rho Markets Resume Operations: Smooth Recovery Following Oracle Error, MEV Episode Concludes
Publication Time:2024-07-22 18:12:12
Last week, the well-known decentralized finance protocol Rho Markets faced an Oracle configuration error, giving automated market makers (MEV bots) the opportunity to steal a significant amount of stablecoins. However, after the issue was resolved, Rho Markets successfully returned online, albeit losing approximately $7.6 million. Thankfully, the MEV bot team proactively returned this sum. They, however, requested that the Rho Markets team clearly state that the incident was not due to a hack or misuse of a vulnerability, but rather an unforeseen technical malfunction.
Rho Markets
stablecoins
MEV bot
Oracle Issue
Recovery Online