An unknown person withdrew assets worth about $ 11.3 million from the Rari Capital decentralized financing protocol.
Researcher Igor Igamberdiev noted that the attack was the first cross-network exploit - the attacker stole funds for it from the Value project, which is powered by Binance Smart Chain (BSC). The hacker withdrew 5346 BNB from it, which he exchanged for 1000 ETH.
According to the expert, the attack mechanism at Rari Capital was to create a fake token and its pool on SushiSwap.
Further, the hacker, interacting with Alpha Homora, received ibETH in the Rari ETH pool contract. He exchanged assets there for Ethereum.
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After repeating the steps several times, the attacker withdrew 2900 ETH, another 1700 ETH was saved by the actions of the Rari team.
“The interaction between DeFi protocols is becoming more and more complex, which opens up new vectors of attacks,” said Igamberdiev.
After the incident, the price of the Rari management token almost doubled - from $ 18.41 to $ 9.51. At the time of writing, the asset is trading just below the $ 14 level.