Rari Capital falls victim to $11 million exploit
Rari's RGT token is plummeting on the news. After a $11 million attack earlier today, Rari Capital is the latest decentralized finance (DeFi) protocol to fall victim to a high-priced exploit The platform, which builds optimized yield vaults and boutique lending pools, confirmed the attack in a Tweet and said that a full postmortem is forthcoming:There has been an exploit in the Rari Capital ETH Pool related to our @AlphaFinanceLab integration. The rebalancer has removed all funds from Alpha in response. We are currently investigating the situation and a full report will be shared once....
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According to a report from the blockchain company Blocsec, Rari Capital’s Fuse platform has lost roughly $80 million from a “reentrancy vulnerability.” On Saturday, Fei Protocol’s official Twitter account confirmed it lost funds from the Rari Fuse platform exploit. $80 Million Swiped from Rari Capital Another decentralized finance (defi) protocol attacker has managed to siphon millions of dollars worth of crypto from a defi project. On Saturday, the blockchain and smart contract audit firm Blocsec revealed Rari Capital’s Fuse platform suffered a loss of....
Ethereum (ETH) based yield aggregator Rari Capital was attacked this weekend by a group of bad actors. As a result, 2,600 in this cryptocurrency were stolen from the Rari Capital Ethereum Pool, as a post-mortem report released by core contributors confirmed. The attack took place at around 1:48 PM UTC, May 8th, with a series […]
Reports from the decentralized finance project Rari Capital detail that the protocol’s ethereum pool has experienced a recent exploit. Rari Capital says they are assessing the situation and the team removed funds from the recent Alpha Finance Lab integration. At first, the project’s team revealed they were assessing the hack, but later estimates assume the project lost $10 million to the hacker. Rari Capital Drained for 2,600 Ether, Hacker Taunts Project There has been no shortage of defi hacks at the end of 2020 and into 2021, as a myriad of projects has seen funds drained....
Up to $26 million worth of Rari’s governance token may be distributed among users impacted by a hack that drained $10 million from the protocol this past weekend. Following a $10 million exploit over the weekend, decentralized finance protocol Rari Capital is formulating a plan to compensate victims.According to an official postmortem of the attack published May 9, the platform lost 2,600 ETH equal to 60% of all users’ funds in its Rari Capital Ethereum Pool. Rari automates yield farming by rebalancing users' funds and pools.On May 10, Rari founder Jai Bhavnani posted an update revealing....
DeFi investigator BlockSec’s monitoring system detected a loss of more than $80 million — citing the root cause as a typical reentrancy vulnerability. Decentralized finance (DeFi) platform Fei Protocol offered a $10 million bounty to hackers in an attempt to negotiate and retrieve a major chunk of the stolen funds from various Rari Fuse pools worth $79,348,385.61 or nearly $80 million.On April 30, Fei Protocol informed its investors about an exploit across numerous Rari Capital Fuse pools while requesting the hackers to return the stolen funds against a $10 million bounty and a ‘no....