Hacker Drains $80 Million from DeFi Rari Capital and Fei Protocol, Bounty Is Offered

AnalysisHacker Drains $80 Million from DeFi Rari Capital and...



Yuri Molchan

$80 million in crypto have been stolen as a result of a re-entrance attack against Rari Capital and Fei Protocol DeFi platforms

Chinese crypto journalist and blogger Colin Wu has spread the news about a hacker attacking DeFi platforms Rari Capital and Fei Protocol, draining them for a massive $80 million in crypto.

Multiple pools related to these platforms have been attacked, tweeted Wu, citing data provided by BlockSec.

The reason cited by Wu is a re-entrance vulnerability which can often be exploited. A re-entrance attack takes place when an execution of a smart contract gets interrupted in the middle and then initiated from the beginning once again (re-entered).

A famous example of such an attack was the DAO hack in June 2016, when over $60 million in Ethereum was stolen.

Ads

Fei Protocol also posted a tweet, saying that they are aware of the exploit on multiple Rari Fuse pools. They have suspended all borrowing operations on them to prevent further stealing of funds. The author of the tweet has offered the hacker to keep $10 million from the stolen crypto as a bounty and return the rest of the funds that belong to their users.



Learn more

Latest news

2 “Strong Buy” Small Cap Stocks That Can Rip Higher in 2023

Considering his status, only a brave financial prognosticator would tell investors to ignore some advice from Warren Buffet....

Will The Dark Warehouse Ever Become Reality? Perhaps Not In Our Lifetime

Steve Shaheen, CEO and founder, DTG. If you’ve ever visited an Amazon distribution center, you might think it’s like...

clues someone is reading your text messages

Just about every connected device you have can be used to spy on you, and this isn’t limited...

Venom Ventures Partners with Everscale, Announces $5 Million Strategic Investment

Vladislav Sopov Venom Ventures, first-ever blockchain-focused VC fund in Abu Dhabi, shares details of its strategic collaboration with Everscale Contents Venom...

US home price inflation slows further in November

US single-family home price growth cooled further in November, surveys showed on Tuesday, which together with declining mortgage rates could...

Toyota to Experiment With Blockchain Use Cases by Sponsoring Astar Network's Hackathon

The auto giant may use technology developed from the hackathon for its internal use. Learn more

Must read

2 “Strong Buy” Small Cap Stocks That Can Rip Higher in 2023

Considering his status, only a brave financial prognosticator...

Will The Dark Warehouse Ever Become Reality? Perhaps Not In Our Lifetime

Steve Shaheen, CEO and founder, DTG. If you’ve ever...

clues someone is reading your text messages

Just about every connected device you have can...

You might also likeRELATED
Recommended to you