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Rho Markets

avoid.net/rho-markets→38/100·78% conf.
[AI-DRAFTED · AWAITING VERIFICATION][src:defillama]

Auto-generated score, not yet verified against the scoring model. Under review — treat as indicative, not a verdict.

anchored·iw1MpT…TaUh

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
Organizations
□Chainlink67□Safe{Wallet}68□Ethereum64□Rho Markets□Compound V228□Scroll58
Relationships
  • 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%)
Also appears in
Aperture LM·28Trenton Richard Johnston·2Crossmint·70Chainlink·67Hedera·55Bedrock Protocol·41BNB Chain Bridge·16Nobitex June 2025 Hack (Predatory Sparrow)·10Robinhood Crypto·54KelpDAO / LayerZero Bridge Exploit (April 2026) — DPRK Lazarus·0+ 50 more
Have evidence about Rho Markets?

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.

Provenance & Audit Trail
Anchored on SolanaVerify on-chain16 Wayback Archivessrc:defillama

Decision Log

This investigation is cryptographically anchored to the Solana blockchain (1 event). 16 of 19 cited source URLs have an Internet Archive snapshot.

full audit log →version history →

model: claude-sonnet-4-6

generated: 5/4/2026, 2:54:30 AM

last updated: 8/30/2026, 8:30:06 PM

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