The incident occurred at approximately 19:00 UTC, when a burner account targeted an inactive market to execute a series of wash trades. By acting as both the buyer and seller at artificially inflated prices, the attacker pushed one account into insolvency while creating fake positive PnL in another. The profitable account then drained funds from the bridge before the platform could intervene. Rocket has since suspended all deposits, withdrawals, and trading activity to prevent further losses.
In section Cryptocurrency
Rocket Platform Suspends Operations Following $287,000 Market Exploit
An attacker manipulated a dormant perpetual market on the Rocket platform on September 5, using inflated orders and self-trading to generate artificial profits. The exploit allowed the perpetrator to withdraw approximately $287,000 from the project’s bridge, forcing the platform to socialize the resulting losses among its users.
Blockchain security tracker SlowMist confirmed the event as a price manipulation attack. Rocket is currently coordinating with law enforcement, stablecoin issuers, and centralized exchanges to trace the stolen assets and attempt to freeze them. While the project has promised a recovery plan that prioritizes smaller accounts, no specific timeline for reimbursement or restoration of services has been provided. The platform has warned users to remain vigilant against phishing attempts from impersonators claiming to offer recovery assistance.
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