Over the weekend, the decentralized finance lender Rari Capital was hacked, with over $80 million stolen. The unknown attacker was promised a $10 million prize if they returned the funds by Fei Protocol, which merged with Rari last year.
PeckShield, a blockchain security resource, described the “old reentrancy flaw” that harmed Rari Capital. The total sum stolen, according to the business, was more than $80 million.
The hacker has also targeted a number of Rari Capital and Fei Protocol pools, according to Block Sec.
The type of the hack and the money stolen were also confirmed by the company.
Rari Capital’s Jack Longarzo later stated that the project had suspended borrowing when the attack was discovered.
He also stated that the team is attempting to minimize the loss and retrieve funds that have been misused.
Longarzo went on to say that the team has begun to look into a possible patch for the flaw, and that they have engaged with security engineers from Compound.
Fei Protocol, which is now owned by Rari Capital, offered the exploited a $10 million reward with “no questions asked” if they returned the remaining user monies. However, no reaction has been received thus far.
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