Crypto Hackers Drain $80M From DeFi Projects; Massive Bounty Offered For Return

Crypto projects Rari Capital and Fei Protocol have said that they have incurred an $80 million hack. 

According to the Chinese crypto blogger Colin Wu, multiple pools related to these platforms have been attacked, citing data provided by BlockSec. 

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An unverified Twitter account for Fei Protocol said developers are looking into the impact of the attack, and offered the hackers a significant sum of money for the return of the funds.

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Following the attack, they suspended all borrowing operations to prevent further stealing of funds. 

As per the tweet, they have offered the hacker to keep $10 million from the stolen crypto as a bounty for returning the rest of the funds that belong to their users.

However, it appears the hackers have already started moving crypto to Tornado Cash, a mixing protocol which makes transactions on a blockchain difficult to track by investigators.

According to a review of activity on Etherscan, close to 5,400 Ethereum ETH/USD tokens have been transferred so far, worth about $15 million based on recent prices.