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
325
2 min
0
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.
Useful material?
Market
According to the founder of TRON, the leading US crypto exchange asked for several hundred million dollars for the listing of TRX
Nov 4, 2024
Incidents
The company conducted fictitious trading for six years to inflate the trading volume of tokens of several companies, receiving payment for these services
Nov 1, 2024
Market
1,5 million addresses have already left applications
Oct 31, 2024
Business
The company began investing in bitcoin in 2020, and since then, the value of its securities has risen by 1700%
Oct 30, 2024
Mining
The Deputy Energy Minister explained that in deficit regions, it is impossible to allocate large capacities for industry enterprises until 2030
Oct 30, 2024
Market
Customers will also be able to withdraw funds to bank accounts using cards
Oct 30, 2024