Hackers Stolen 80M from Defi Lender Rari Capital

The Decentralized finance lender Rari Capital was exploited with over $80 million swiped by Fei Protocol. which merged with Rari last year and offered the hacker a bounty of $10 million if they returned the funds. 

Hackers Stolen 80M from Defi Lender Rari Capital

Blockchain security company PeackShield defines the "old reentrancy bug" which compromised Rari Capital. The company says the total amount stolen exceeded $80 million. 

The hacker had targeted Rari Capital and Fei Protocol pools The firm also confirmed the nature of the hack and the amount swiped. 

Rari Capital's Jack Longarzo expressed that the project had halted borrowing after discovering the attack. as well as the team is working to mitigate the loss and recover exploited funds. 

Longarzo further informed that the project has started to preview a possible fix to the vulnerability and has a partnership with security engineers from Compound.

Fei Protocol, now a part of Rari Capital offered a $10 million bounty to the exploited with "no questions" if they returned the remaining user funds so 

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