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Rocket Loses $287,000 in Attack Targeting Dormant Perpetual Market

Rocket Loses $287,000 in Attack Targeting Dormant Perpetual Market

Rocket has suspended all platform transactions while it investigates the exploit and works to trace the stolen funds.

Written by Rahul Dhingra, Edited by Rohan Pal | Updated: 7 September 2026 19:20 IST

Rocket Loses $287,000 in Attack Targeting Dormant Perpetual Market

Photo Credit: Unsplash/lonely blue

Rocket is working with exchanges, bridges and stablecoin issuers to trace the stolen funds

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Highlights

Attacker used a burner wallet to create artificial profits
The resulting loss was set to be socialised across the platform
Rocket has not given a timeline for restoring transactions

Rocket has halted deposits, withdrawals, and trading following the exploit of an inactive perpetual market by the attacker, which led to the withdrawal of roughly $287,000 (roughly Rs. 2.7 crore) worth of positive PnL from the Bridge of Rocket. In a September 7 announcement on X, Rocket explained that the attack had taken place on September 5 at around 19:00 UTC, when the attacker had exploited an inactive perpetual market using a burner wallet. The attacker placed orders at very high prices and traded against themselves, creating artificial profits in one account while pushing the burner account into bankruptcy.

Rocket Works With Industry Partners to Trace Stolen Funds

This profitable account went on to withdraw about $287,000 (roughly Rs. 2.7 crore) worth of funds from The Bridge, and the resultant loss was then to be socialised. Rather than describing a smart contract vulnerability, the initial narrative by Rocket concerning the attack was one of manipulating a dormant perpetual market. Through an expendable account, the hacker posted orders at bloated prices and went ahead to trade against himself.

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Update on the 09/05/2026 security incident:

All deposits, withdrawals, and trading are paused for the time being while we work through this - please bear with us, the team is working on the incedent.

What happened: At approximately 19:00 UTC, an attacker exploited a dormant…
— Rocket (@RCKTFoundation) September 6, 2026

According to Rocket, the transactions created “fake profits” for one account while the burner account took up the losses. The account that had the profits made a withdrawal of about $287,000 (roughly Rs. 2.7 crore) via the Bridge before the process ceased. Rocket has, however, halted all transactions, deposits, and withdrawals as the team investigates the matter. The project has neither given a timeframe for the resumption of these services nor disclosed how many users were exposed to the socialised loss.

Rocket mentioned that it was cooperating with cybersecurity firms and law enforcement authorities in order to examine the hack and get back the funds. The team is collaborating with cryptocurrency exchanges, cross-chain bridges, and stablecoin issuers in an effort to trace the lost money and freeze them. Rocket did not mention which companies or law enforcement organisations it has engaged in the investigation process.

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The number of crypto hacks witnessed a sharp increase in August, as per a blockchain security firm, PeckShield. On September 1, the security firm said it had detected 50 attacks in August. This is a 67 percent increase from the 30 cases reported in July. The estimated loss stood at $136.3 million (roughly Rs. 1,294 crore), which is a decrease of 49.5 percent from the $270 million (roughly Rs. 2,564 crore) lost in July.

Cryptocurrency is an unregulated digital currency, not a legal tender and subject to market risks. The information provided in the article is not intended to be and does not constitute financial advice, trading advice or any other advice or recommendation of any sort offered or endorsed by NDTV. NDTV shall not be responsible for any loss arising from any investment based on any perceived recommendation, forecast or any other information contained in the article.

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Further reading: Crypto Scams, Crypto Frauds, Rocket Crypto Exchange

Rahul Dhingra

Email Rahul Dhingra

Rahul Dhingra is a crypto writer at Gadgets 360, where he covers the exciting world of Cryptocurrency, Blockchain, Defi and Web3. Before joining Gadgets 360, he worked as a content specialist for a European-based Crypto Exchange. Rahul loves storytelling, not just through the written word but also through the visual medium. Beyond his professional life, Rahul is a sports fanatic. Whether it’s cricket or football, his passion for the game is contagious. More