Cryptocurrency [loss] $80M+

Tweet thread by BlockSec

2022-04-30 [vendor] Fei Protocol [chain] ethereum
Primary Source ↗
Financial Loss $80.0M (80,000,000 USD)
Blockchain(s) Ethereum

Incident Details

A hacker attacked multiple Rari liquidity pools relating to the Fei Protocol, exploiting a known re-entrancy vulnerability that exists on forks of the Compound protocol. The attacker stole more than $80 million from the projects.Fei Protocol tweeted that they had paused borrowing to avoid further thefts, and offered a $10 million bug bounty if the hacker returned the money.

Total loss estimated at $80,000,000.

Technical Details

Initial Attack Vector
Smart contract exploit / hack
Vendor / Product
Fei Protocol

Timeline

  1. 2022-04-30 Breach occurred
  2. 2022-04-30 Publicly disclosed