Rho Markets
Last changed 2026-10-27 · Score recalculated — Rescored under Scoring v2, the published formula (avoid.net/scoring): 38 → 50. Problems weighed by who is responsible: the subject's own conduct −8, incidents the subject suffered −6.4, problems around the subject, caused by others −2.4; legitimacy credit long-running +6; no longer operating, so capped at 50. Version history →
Why this score
| Every page starts at | 65 |
| The subject's own conduct | -8 |
| Incidents it suffered (e.g. hacks) | -6.4 |
| Problems around it, caused by others | -2.4 |
| Long-running | +6 |
| Sum | 54 |
- No longer operating, so capped at 50.
Score: 50/100 (kept between 0 and 100)
How scoring works →Summary
Rho Markets is a DeFi lending protocol (Compound V2 fork) deployed on Scroll, an Ethereum Layer 2 ZK-rollup network. On July 19, 2024, a misconfigured price oracle allowed an MEV bot to extract approximately $7.6 million in user funds; the operator voluntarily returned all funds after demanding a public acknowledgment of the misconfiguration. Despite full fund recovery, the protocol's TVL collapsed to near-zero and remains essentially inactive as of 2026.
Connected Entities
6 entities · 60 linked investigations- Compound V2→mentioned with→Ethereum(80%)
- Compound V2→mentioned with→Chainlink(60%)
- Scroll→mentioned with→Ethereum(80%)
- Safe{Wallet}→mentioned with→Ethereum(80%)
- Chainlink→mentioned with→Ethereum(65%)
- Rho Markets→mentioned with→Scroll(80%)
- Rho Markets→mentioned with→Ethereum(75%)
- Rho Markets→mentioned with→Chainlink(60%)
- Rho Markets→mentioned with→Safe{Wallet}(75%)
- Rho Markets→mentioned with→Compound V2(80%)
Timeline(8 events)
8 June 2022
Rho Markets founded; protocol development begins on Scroll ecosystem.
19 July 2024
Oracle misconfiguration exploit detected: MEV bot drains approximately $7.5-7.6 million in USDC, USDT, and wstETH from Rho Markets pools on Scroll within minutes.
19 July 2024
Rho Markets halts protocol operations. Scroll team temporarily pauses L2 chain finalization to assess scope of breach.
19 July 2024
MEV bot operator sends on-chain message indicating willingness to return all funds, contingent on Rho Markets publicly admitting oracle misconfiguration error.
19 July 2024
Scroll resumes chain finalization after determining exploit was confined to Rho Markets application layer.
19 July 2024
Rho Markets complies with MEV operator demands; all 2,202.85 ETH (approximately $7.6 million) returned to protocol multi-sig Safe wallet. Team announces no user funds permanently lost.
19 July 2024
Dedaub, Olympix, and other security firms publish post-mortems confirming ETH oracle was misconfigured to use the WBTC/USD price feed at deployment time.
27 May 2026
Rho Markets TVL stands at approximately $8 with $0 in active loans; protocol is effectively inactive with no announced relaunch.
Decision Log
- slot 461967023 · hash 4za2Duv28NXDzXE9NeeUf5cE1p3pUUvz2mCtGMFRJrT5
- slot 422640798 · hash 9ETtyceJ3QB12BQGAXGW2P4wDuYoCqwUE2CkkRrNZNEt
This investigation is cryptographically anchored to the Solana blockchain (2 decisions). 16 of 19 cited source URLs have an Internet Archive snapshot.
model: claude-sonnet-4-6
generated: 5/4/2026, 2:54:30 AM
last updated: 10/27/2026, 6:09:49 AM
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