Hackers withdrew more than $80 million from the Rari Capital and Fei Protocol DeFi platforms

The company offered the attackers to keep $10 million of the stolen funds as a “reward” if the rest were returned

02.05.2022 - 16:30

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What’s new? Hackers exploited a re-entry vulnerability in Rari Capital’s Fuse pools lending protocol and withdrew more than $80 million. This was reported on Twitter by BlockSec, a company that analyzes smart contracts. Rari Capital acknowledged the hack and said the loans have been suspended and no other funds are at risk.

Source: Twitter.com

What did the organization do? Fei Protocol, which merged with Rari Capital last December, offered to keep $10 million of the stolen funds as a “reward” if the rest were returned.

What happened before? In March, Ronin Network, a sidechain used by the popular game Axie Infinity was attacked by a hacker. With the exploit, the criminal withdrew more than $625 million in cryptocurrency (173 600 ETH and 25,5 million USDC). Following the hack, the Ronin team disabled the cross-chain bridge and the Katana non-custodial exchange.

In mid-April, Elephant Money (ELEPHANT), a DeFi protocol, created on the Binance Smart Chain blockchain, was subjected to a hacker attack, causing the platform to lose $22 million. The developers of the project claim that users’ funds are safe.

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