Over $80 Million Stolen From DeFi Lender Rari Capital

Over $80 million was stolen from Rari Capital, a decentralized finance lender. Fei Protocol, which was merged with Rari last summer, offered an anonymous attacker a $10 million bounty if they returned funds.

PeckShield, a blockchain security resource, described the “old reentrancy problem” that compromised Rari Capital. According to Block Sec, the stolen amount was more than $80 million. Rari Capital’s Jack Longarzo later noted that the attack had caused the project to stop borrowing. He promised that the team was working to mitigate the loss, recover exploited funds, and that they are currently reviewing a possible solution. All Tribe DAO managed pool (8, 146 and 156) had their interest rate curves for markets with bad debt fixed at a low rate.

Fodl Finance (127) & OlympusDAO (18) have made the same decision and the team is now wrangling with the two remaining pool operators to determine how to move forward.

— Jack Longarzo (@JackLongarzo) April 30, 2022

Fei Protocol, now part of Rari capital, offered a $10,000,000 bounty to exploited people with no questions if they returned any user funds. However, no response has been received so far.
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Marla Brooks

Marla Brooks – Financial Analysis My name is Marla Brooks, and I am the mainstream behind the”observednews.com”  for the powerful and most delicate insights into the latest activities in the financial analysis category. I started my journey as an independent financial consultant. I had approximately nine years of experience in this field. I am free soul so; my passion for exploring the world has taken me to the nations across the globe and given me the chance to report for a portion of the best news associations. Currently, I am a full-time editor as experienced in finance and started to use my abilities.

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