Rocket L1 Suspends Operations After $287k Exploit in Dormant Perps Markets
Desk note on Rocket L1 disclosure of September 5 self-trading attack, $287k losses, and suspension of all activity while tracing funds.
Rocket L1 stated that it discovered an on-chain attack on September 5 that produced losses of approximately $287,000.
The attacker used a one-time account in dormant perpetual markets to post inflated orders, executed self-trades that created artificial profits, and then withdrew the funds.
Operational Response
All deposits, withdrawals, and trading have been suspended.
The team is working with security firms, law enforcement, exchanges, bridges, and stablecoin issuers to trace and freeze the assets.
A recovery plan is being prepared that will begin refunds with smaller accounts.
Open Questions
Exact loss confirmation and any funds recovered or frozen remain unverified.
No timeline has been provided for resumption of operations or start of refunds.