Advertisement
AD

Main navigation

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

Advertisement
Sat, 30/04/2022 - 12:07
A
A
A
Hacker Drains $80 Million from DeFi Rari Capital and Fei Protocol, Bounty Is Offered
Cover image via stock.adobe.com
Read U.TODAY on
Google News

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.

Advertisement

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).

Advertisement

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

Related

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.

Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.

A
A
A

Related articles

Advertisement
TopCryptoNewsinYourMailboxSubscribe
TopCryptoNewsinYourMailboxSubscribe
Advertisement
Advertisement
Subscribe to daily newsletter

Recommended articles

Latest Press Releases

Our social media
There's a lot to see there, too

Popular articles

Advertisement
AD