DeFi Lender Rari Capital/Fei Loses $80M in Hack

2 years ago

Kevin Reynolds is Editor successful Chief astatine CoinDesk. He owns bitcoin, ether, polygon and solana.

Sam is simply a newsman astatine CoinDesk focused connected decentralized technology, DeFi and DAOs. He owns ETH, BTC and MATIC.

Decentralized concern (DeFi) platforms Rari Capital and Fei Protocol suffered a more-than-$80 cardinal hack aboriginal Saturday.

  • The hacker exploited a reentrancy vulnerability successful Rari's Fuse lending protocol, according to a tweet by astute declaration investigation steadfast Block Sec.

  • According to a tweet from Blockchain information steadfast PeckShield, the aforesaid vulnerability has been utilized to onslaught different forks of the Compund DeFi protocol.

  • Rari Capital acknowledged the hack, saying borrowing has been paused globally and that nary further funds were astatine risk.

  • Fei Protocol, which merged past December with Rari, offered to fto the attacker support $10 cardinal of the stolen funds arsenic a "bounty" if the remaining funds were returned.

  • Rari Capital suffered from a different attack successful May of past year, which saw a hacker tally distant with $10.6 cardinal successful idiosyncratic funds.

This communicative is processing and volition beryllium updated.

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Kevin Reynolds is Editor successful Chief astatine CoinDesk. He owns bitcoin, ether, polygon and solana.

Sam is simply a newsman astatine CoinDesk focused connected decentralized technology, DeFi and DAOs. He owns ETH, BTC and MATIC.

Kevin Reynolds is Editor successful Chief astatine CoinDesk. He owns bitcoin, ether, polygon and solana.

Sam is simply a newsman astatine CoinDesk focused connected decentralized technology, DeFi and DAOs. He owns ETH, BTC and MATIC.


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