Raft: Users affected by the attack can receive compensation before March 31, 2024
On November 24th, stablecoin project Raft released an update on the attack incident. All users affected by the previous attack can now receive compensation in DAI, which will continue until March 31, 2024 at 18:00 Beijing time.<br>As previously reported by BlockBeats, Raft stated that 3,963,192.62 DAI from the PSM (Anchoring Stability Module) will be distributed to users affected by the incident, with the snapshot taken at block height 18572928. Compensation will be based directly on the amount of R held in RR (Ethereum mainnet and Base) at the time of the snapshot.
Raft: Include all veRAFT holders in recovery plan
Stablecoin protocol Raft announced that based on the feedback we have received, we have edited the recovery plan to include all veRAFT holders in the recovery plan. The proposal will be open for feedback and suggestions until 23:59 UTC on November 22, 2023.
Raft updates the compensation proposal for hacking incidents and expands the eligibility criteria for compensation
Raft has updated its hacker incident compensation proposal, expanding the eligibility criteria to adapt to various situations, ensuring that all affected users receive the maximum degree of fairness and justice, and 3,963,192.62 DAI in the stability module (PSM) will be distributed to users affected by the incident.
Raft releases hacking incident compensation plan: 3.96 million DAI will be taken out of PSM to compensate victims
Stablecoin protocol Raft has released a compensation plan for the recent hack. Raft will compensate victims using 3,963,192.62 DAI from the stable protocol module (PSM) based on the snapshot at block height 18572928. To be eligible for compensation, users must meet the following requirements:
Send Shield: Raft attacker address transferred 140 ETH to Tornado Cash
According to Pai Shield monitoring, the Raft attacker address that previously destroyed 1570 ETH has now transferred 140 ETH to Tornado Cash.
PeckShield: Raft hack led to around $6.7 million in uncollateralized stablecoin R being minted
PeckShield analysis found that the hack of the collateralized stablecoin protocol Raft resulted in approximately $6.7 million worth of uncollateralized stablecoin R being minted. Analysis shows that the hacker took advantage of a round of issuance and donation: (1) manipulating the rcbETH-c index of the collateral token, borrowing/minting $6.7 million worth of R; (2) minting additional rcbETH-c to fully redeem the donation.
After the hacker attack, the US dollar stablecoin R plunged 50% in a short time and is now trading at $0.89
DeFi platform Raft suffered a hacker attack early this morning, resulting in a loss of about 3.3 million US dollars worth of ETH. Coinmarketcap data shows that Raft's stablecoin R, which is pegged to the US dollar, immediately dropped by 50%, but later rebounded to around 70 cents and is currently trading at 0.89 US dollars, with a 24-hour decline of 10.64%. Raft co-founder David Garai confirmed the attack on X platform, stating that the hacker minted R tokens and then sold them to exhaust the liquidity of the automated market maker, while extracting collateral from Raft.
Hacker steals 1,577 ETH from Raft and destroys most of the tokens, leaving negative profits after paying fees
According to data on the blockchain, an attacker stole 1,577 ETH from the DeFi platform Raft and then sent 1,570 ETH to a burn address, leaving only 7 ETH. Blockchain data from Arkham shows that the hacker's address transferred 18 ETH through the encrypted mixing service Tornado Cash before the attack, possibly to fund the transaction. After executing the transfer and paying blockchain fees, the hacker's encrypted wallet had only 14 ETH left, meaning they made a profit of -4 ETH throughout the entire operation.
