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
240
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
Users who have experienced withdrawal problems in the last two days will be eligible to participate
Mar 28, 2024
Market
Last July, a criminal investigation into the exchange was opened by the US authorities
Mar 27, 2024
Market
The unrealized profit from the deal was $8,9 million
Mar 26, 2024
Incidents
The phasing out began on March 25
Mar 25, 2024
Crypto regulations
The new measures must go through additional stages of approval
Mar 25, 2024
Incidents
The popularity of this kind of project launch format has already led to blockchain overload
Mar 20, 2024