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.
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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