Wu said that Rhea Finance released an event analysis stating that its lending market was attacked on April 16 due to a flaw in the slippage protection mechanism in the margin trading module.


The attacker bypassed the protection logic by constructing a chained exchange path that reused intermediate assets, transferring approximately 18.4 million USD worth of assets from the protocol reserve pool;
Currently, the attacker has returned about 3.359 million USDC and 1.564 million NEAR, approximately 4.34 million USDT has been frozen, and the related lending contracts have been suspended to assist with tracking and asset recovery.
The team is working with exchanges and relevant parties to investigate and develop subsequent compensation plans.
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