Rhea Finance releases preliminary analysis of security incident and states they are actively recovering funds

Crypto World Network, April 17 — Rhea Finance issued an update regarding yesterday’s security incident, stating that the team is focused on protecting users and coordinating efforts to recover funds. According to preliminary analysis, the attacker exploited a vulnerability in Rhea’s leveraged trading feature to execute a coordinated pool manipulation attack. The Rhea Lend smart contract was affected, while the Rhea DEX contract was not impacted. Both contracts have been temporarily paused for protection. The team is actively working to recover the funds and communicating with relevant parties about the return of remaining assets. They have hired a security team to conduct in-depth forensic investigations, track the movement of funds in real-time, and coordinate recovery efforts, while also notifying law enforcement authorities. A comprehensive incident analysis report will be released later.
Earlier, yesterday, it was reported that Rhea Finance was attacked by a fake token contract, resulting in the theft of approximately $7.6 million.