Scan to download
BTC $77,315.24 +3.40%
ETH $2,424.56 +3.86%
BNB $646.28 +2.24%
XRP $1.48 +3.04%
SOL $89.11 +0.72%
TRX $0.3270 +0.17%
DOGE $0.0994 +0.79%
ADA $0.2587 +0.67%
BCH $454.55 +0.40%
LINK $9.63 +1.53%
HYPE $45.14 +3.11%
AAVE $115.31 +1.27%
SUI $0.9981 +0.20%
XLM $0.1736 +3.62%
ZEC $336.63 -1.20%
BTC $77,315.24 +3.40%
ETH $2,424.56 +3.86%
BNB $646.28 +2.24%
XRP $1.48 +3.04%
SOL $89.11 +0.72%
TRX $0.3270 +0.17%
DOGE $0.0994 +0.79%
ADA $0.2587 +0.67%
BCH $454.55 +0.40%
LINK $9.63 +1.53%
HYPE $45.14 +3.11%
AAVE $115.31 +1.27%
SUI $0.9981 +0.20%
XLM $0.1736 +3.62%
ZEC $336.63 -1.20%

k

Rhea Finance disclosed the reason for the attack, a flaw in the slippage protection logic led to a loss of 18.4 million dollars

According to RHEA Finance's official disclosure, the NEAR ecosystem lending protocol RHEA Finance (formerly known as Burrow Finance) experienced a margin trading feature hack, resulting in a loss of approximately $18.4 million.The attacker began laying the groundwork several days prior by creating multiple fake token pools on Ref Finance and injecting liquidity, constructing a malicious exchange route that exploited a vulnerability in the protocol's slippage protection mechanism—this mechanism did not account for the scenario where intermediate tokens were reused when calculating the minimum output of multi-step exchanges—leading to the borrowed debt tokens being directed into fake token pools controlled by the attacker, triggering a large-scale forced liquidation that ultimately drained the protocol's reserve pool. During the attack, the attacker deleted a total of 55 intermediate accounts to cover their tracks. Currently, the attacker has returned approximately 3.359 million USDC and 1.564 million NEAR to the RHEA lending contract, while another 4.34 million USDT has been frozen (of which Tether froze 3.291 million and NEAR Intents froze 1.053 million). The protocol contract has been suspended, and the team is collaborating with centralized exchanges for joint tracking and has notified relevant law enforcement agencies.

The US SEC has accepted the NYSE's new regulations, proposing to introduce a tokenized securities trading mechanism to support on-chain settlement

The SEC released a document (34-105260) disclosing the rule change application submitted by the NYSE, intending to formally introduce a framework for trading tokenized securities.According to the proposal, the NYSE plans to add Rule 7.5, allowing eligible securities to be traded and settled in a blockchain-based tokenized form in addition to traditional forms. The relevant arrangements will operate under the DTC pilot program. The core mechanisms include: tokenized securities and traditional stocks will share the same trading code (CUSIP) and rights structure, and will be fully interchangeable; in the matching system, tokenized and traditional securities will have the same execution priority, and the order of transactions will not be affected by the different forms; trading participants can choose to settle and clear in an on-chain form through a tokenization flag, with specific processing carried out by custodians. Additionally, the NYSE also plans to simultaneously modify order sorting, routing, and clearing rules to accommodate the trading process of tokenized securities, ensuring seamless integration with the existing market structure.From a market perspective, this proposal signifies that traditional U.S. securities exchanges are officially exploring the introduction of blockchain technology into the core trading and settlement systems. If approved, it could become an important milestone for on-chain securities entering mainstream financial infrastructure.
app_icon
ChainCatcher Building the Web3 world with innovations.