$7.6 million vanished after fake tokens tricked Rhea Finance’s validation system
$7.6 million in legitimate assets were withdrawn from Rhea Finance after an attacker bypassed its validation system using fake token contracts. The exploit relied on injecting liquidity into newly created pools, which deceived the platform’s oracle into recognizing the fraudulent tokens as valid. With that access, the attacker drained funds across the affected pools. Blockchain security firm CertiK traced the attack to a NEAR Protocol wallet address identified as 31ac7a27…. Shortly after the incident, Tether’s CEO Paolo Ardoino confirmed that $3.29 million in USDT linked to the attacker’s wallet had been frozen. Rhea Finance has not yet released an official statement. Users are currently advised to avoid the platform until further notice.
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