Rari hack

Tribe DAO to Repay the Victims of $80 Million Exploit

22.09.2022 09:48
by Sviatoslav Pinchuk
1 min read

After several months of deliberating and a few rounds of voting, Tribe DAO has now made the decision to fully reimburse victims of the Rari Capital hack.

The hack, which occurred in late April, saw the attacker take off with more than $80 million by exploiting a vulnerability in Rari’s Fuse lending protocol. Tribe DAO, which consists of Rari Capital, Fei Protocol, Volt Protocol, and Midas Capital, then offered $10 million to the hacker should he return the stolen funds. It still hasn’t been disclosed whether that eventually happened or not.

Either way, Tribe DAO will pay some 12 million FEI to individual victims of the exploit, and 26 million DAI to DAOs. According to data provided by the voting platform Tally, 99% of votes at the latest round were in favor of reimbursing Rari users.

Author

  • Man who simply bought some BTC for domestic needs in 2014 and then forgot about it till 2017. The dude who got Etherium in 2017 by misclick and sold it in 2018 "just to try". Lost 1 Florida house in XEM in 2018, Sviatoslav finally decided to trade reasonably and now he is one of the most analytical and data-driven trader in Crypto Industry. Has Bachelor Degree of Chinese Interpreter and deep practical experience in competitive niches SEO.

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