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Crypto Hackers Drain $80M From DeFi Projects; Massive Bounty Offered For Return

Crypto projects Rari Capital and Fei Protocol have said that they have incurred an $80 million hack.  According to the Chinese crypto blogger Colin Wu, multiple pools related to these platforms have been attacked, citing data provided by BlockSec. 

Benzinga · 05/01/2022 11:41

Crypto projects Rari Capital and Fei Protocol have said that they have incurred an $80 million hack. 

According to the Chinese crypto blogger Colin Wu, multiple pools related to these platforms have been attacked, citing data provided by BlockSec. 

Also Read: You Could Lose Your Crypto If Apple Password 'Isn't Strong Enough,' Warns MetaMask

An unverified Twitter account for Fei Protocol said developers are looking into the impact of the attack, and offered the hackers a significant sum of money for the return of the funds.

Also Read: Instagram Hack Leads To Millions Of Dollars Worth Of Bored Ape Yacht Club NFTs Stolen

Following the attack, they suspended all borrowing operations to prevent further stealing of funds. 

As per the tweet, they have offered the hacker to keep $10 million from the stolen crypto as a bounty for returning the rest of the funds that belong to their users.

However, it appears the hackers have already started moving crypto to Tornado Cash, a mixing protocol which makes transactions on a blockchain difficult to track by investigators.

According to a review of activity on Etherscan, close to 5,400 Ethereum (CRYPTO: ETH) tokens have been transferred so far, worth about $15 million based on recent prices.