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.
Blockchain security company PeackShield defines the "old reentrancy bug" which compromised Rari Capital. The company says the total amount stolen exceeded $80 million.
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.
Markets with bad debt are as follows:— Jack Longarzo (@JackLongarzo) April 30, 2022
Pool 8: Fei, Dai
Pool 18: Dai, USDC, Frax, Fei, Rai
Pool 27: Frax, Fei
Pool 127: USDC, Dai, Frax
Pool 144: Fei, Frax, Dai
Pool 156: Fei, Frax, Dai, USDC
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