Rhea Finance post-mortem puts exploit losses at $18.4 million, more than double initial estimates
The Block
Rhea Finance confirmed an exploit caused $18.4 million in losses, significantly higher than earlier projections, with some funds recovered or frozen.Summary
A post-mortem analysis from Rhea Finance reveals that an exploit on its lending protocol resulted in $18.4 million in losses, more than double the initial $7.6 million estimate. The attacker manipulated the protocol’s margin trading feature using a "deliberately constructed swap route" to undercollateralize positions and deplete reserves. While roughly $8 million has been recovered or frozen through cooperation with Tether and on-chain pressure, approximately $5.6 million remains outstanding. The team is currently developing a recovery and compensation framework while working with investigators.
(Source：The Block)