Rho Markets Announces Community Rewards Program After 'Hack Incident'

IconCryptoNewsTerminal Staff27 Jul, 2024

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Rho Markets Announces Community Rewards Program After 'Hack Incident'

Rho Markets, an Ethereum Layer 2 network Scroll-based lending protocol, has announced a community rewards program following a recent hack incident. The platform disclosed via its official Twitter handle that it has "finalized the post-mortem for the recent hack incident and has activated preventative measures to mitigate similar outcomes in the future." As part of the recovery plan, Rho Markets is offering a three-day rewards program for its community, providing borrowers with 3x loyalty points and lenders with 4x. Notably, the platform endured an exploit of its oracle price feed, leading to the theft of $7.6 million worth of assets.

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