Morpho states its smart contracts remain secure after the rsETH incident, with exposure limited to about $1 million in ETH loans across two isolated markets and two vaults on April 19.
Morpho said it paused the MORPHO token OFT bridge on Arbitrum as a precaution following the rsETH incident and will keep cross-chain transfers suspended until the root cause is identified. The company said its smart contracts remain secure and that only about $1 million in ETH loans used rsETH as collateral. CEO Paul Frambot said the impact was limited to two isolated markets and two of roughly 500 Morpho Vaults with deposits above $10,000 on April 19.