RAI Finance Hack

Reported loss $414K
Other

What happened

To connect the liquidity between ERC20 and BSC, RAI Finance has been using Chainswap to ensure the liquidity between both blockchains.

RAI Finance reserved 2.9M RAIs to an address 0x9D4D377c…5CcDe3, and this address automatically approves the spent access to the Chainswap’s bridge contract.

The Chainswap smart contract for RAI spend access has been exploited on Jul-03–2021 12:39:18 AM +UTC, from the contract address 0x0e128fb9…d51b84 which has access up to 2.9M RAIs in total at the account.

Protocol details

Classification Yield Aggregator
Protocol Type Exploit/Other
Affected asset / contract RAI
Protocol links Website @RaiFinance

Funds Recovery

100.0%

Recovered

$414K

Net Loss

$0

Evidence

Same attack technique

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