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Wu Shuo learned that Rhea Finance released an incident analysis stating that its lending market was attacked on April 16 due to a flaw in the slippage protection mechanism in the margin trading module.
The attacker bypassed the protection logic by constructing a chained swap path that reused intermediate assets, transferring approximately $18.4 million worth of assets from the protocol reserve pool.
Currently, the attacker has returned about $3.36M USDC and $1.56M NEAR, while approximately $4.34 million USDT has been frozen.
The related lending contracts have been paused to assist with tracking and asset recovery.
The team is collaborating with exchanges and relevant parties to investigate and develop subsequent compensation plans.