What happened
On April 16, 2026, Rhea Finance’s NEAR margin-trading product was exploited. Fireblocks reported an estimated loss of about $18.5 million, while QuillAudits reported $18.4 million; the loss should therefore be presented as approximately $18.4–$18.5 million.
The cited analyses attribute the exploit to a multi-step slippage-validation flaw: the margin-trading check summed minimum outputs without accounting for an earlier swap output being reused as a later swap input.
How it happened
The analyses report that the attacker prepared fake tokens and manipulated liquidity pools, then opened margin-trading routes whose slippage checks passed despite substantially less real value returning to the protocol.
Protocol details
Security review history
- BlockSec View report
Evidence
- report Rhea Finance incident update x.com
- report @CertiKAlert incident report x.com
- report Post-mortem rekt.news
- report The Block: Rhea post-mortem reporting theblock.co
- report Fireblocks Q2 2026 threat report: Rhea Finance fireblocks.com
- analysis DeFiLlama defillama.com
- analysis Rhea Finance margin-trading exploit analysis quillaudits.com
Understand the attack patterns
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