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Rari Capital Experiences Attack, Loses Nearly $10 Million

DeFi project Rari Capital became the newest victim of a security exploit on the 15th of May after the platform was exploited of nearly $10 million in Ether (ETH). Specifically, Rari Capital lost 2,600 ETH from its Ethereum pool. 

Announcing the hack on Twitter, Rari Capital said:

reportCoinjournal on the hack, Rai founder Jai Bhavnani said that the protocol will “bounce back harder than ever.” He added that there would no longer be a Rari Capital team. Instead, the protocol will have token holders and contributors. 

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