Rhea Finance announced that their lending protocol was hacked on April 16, resulting in approximately 18.4 million USD worth of assets taken from the reserve fund and affecting the reserve balance along with participating users.

The incident was identified as targeting the leveraged trading function, with suspicions of exploiting a vulnerability in the slippage protection mechanism. The development team stated they are locking the lending contract to ensure capital safety and are implementing remedial steps.

Rhea Finance reported that the attacker has replenished approximately 3.359 million USDC and 1.564 million NEAR into the RHEA lending contract. In addition, 4.34 million USDT has been frozen, including 3.291 million USDT that has been blocked by Tether in the attacker's wallet and 1.053 million USDT locked in NEAR Intent.

The project team is trying to contact the attacker to recover the remaining affected assets, while officially starting the tracing process with centralized exchanges to identify the related account holder.

Previously, RheaFinance was reported to have been attacked through fake token contracts, with damages of approximately 7.6 million USD.

Source: https://tintucbitcoin.com/rhea-finance-cong-bo-bao-cao-dieu-tra-vu-tan-cong-mat-18-4-trieu-usd/

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