Key Takeaways:
- Rhea Finance is the victim of a ~ $7.6M exploit of its margin trading system.
- Fake tokens and liquidity pools were used to manipulate prices and drain funds by attackers.
- Contracts stopped, recovery also in progress and police also involved.
Another new exploit in the DeFi ecosystem has come out, and Rhea Finance has verified a strategic attack on its lending infrastructure. The accident has taken place within a short period of time compelling the team to halt the major contracts and start the recovery process.
Exploit Targets Margin Trading and Lending Contracts
Rhea Finance said the attacker exploited a vulnerability in its margin trading feature. This allowed a coordinated manipulation of liquidity pools tied to the lending system.
The Rhea team would like to provide an update rega...
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