Building a Secure Blockchain System for Web 3.0 after $865K Exploit

Hacker Steals 471 ETH from Base Protocol

RocketSwap Labs has declared an emergency plan to recover from a malicious hacker who stole $865,000 or 471 Ether (ETH) from the protocol on Aug. 14.

On Aug. 15, the team revealed their strategy to redeploy a new farm contract, make it open-source on the blockchain, relinquish minting rights, and call on the hacker to return the crypto assets.

According to blockchain security firm PeckShield, the hacker managed to transfer 471 ETH from Base to Ethereum. The hacker then created 90 trillion “LoveRCKT” tokens and moved 400 ETH to Uniswap.

The team is now focused on providing blockchain fundamentals for web 3.0, a crypto assets course, and a blockchain in web 3.0 pdf. They will also build and deploy a modern web 3.0 blockchain app, learn about blockchain technology web 3.0, and assemble protocol crypto.

Exploit on RocketSwap Labs

On Aug. 14 at 11:06 UTC, RocketSwap Labs confirmed the existence of an exploit, with PeckShield and CertiK providing additional details about it a few hours later. According to RocketSwap Labs, the exploit was a result of a brute force attack on the protocol’s server.

RocketSwap is a decentralized exchange on Base, with plans to transition to a decentralized autonomous organization (DAO) in the future. As part of this goal, the platform seeks to educate users on blockchain fundamentals for web 3.0, crypto assets, and the build and deploy a modern web 3.0 blockchain app.

In addition to this, RocketSwap also offers a blockchain and web 3.0 course, as well as materials on blockchain technology web 3.0, crypto and blockchain, blockchain and crypto, and assemble protocol crypto.