Rari Capital Vulnerability
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Rari Capital discovered a vulnerability in their smart contract, prior to it being exploited.
This is a global/international case not involving a specific country. [1][2][3][4][5][6]
About Rari Capital
"Rari Capital was founded upon a principle whereby yield could be generated without speculation, and instead: utilization. Rari Capital is managed by the $RGT which manages governance over all of the Rari Protocol, a DeFi robo-advisor for maximizing yield."
"Rari Capital is working on building a series of products with the goal of increasing market efficiencies within the crypto-sphere. Our first product is software that can rebalance users holdings across a series of protocols to deliver the highest yield." "Start earning with our yield aggregator product. It's as easy as depositing and watching the number go up."
"Previously, due to loopholes in the RGT Distributor contract, RGT token application and deposit and withdrawal operations have been suspended. Rari Capital is currently reviewing the code update to confirm that there are no other vulnerabilities in the entire code."
"DeFi robo-advisor Rari Capital released an official Twitter saying that contract vulnerabilities have been fixed with the cooperation of Quantstamp and no funds have been lost."
This is a global/international case not involving a specific country.
The background of the exchange platform, service, or individuals involved, as it would have been seen or understood at the time of the events.
Include:
- Known history of when and how the service was started.
- What problems does the company or service claim to solve?
- What marketing materials were used by the firm or business?
- Audits performed, and excerpts that may have been included.
- Business registration documents shown (fake or legitimate).
- How were people recruited to participate?
- Public warnings and announcements prior to the event.
Don't Include:
- Any wording which directly states or implies that the business is/was illegitimate, or that a vulnerability existed.
- Anything that wasn't reasonably knowable at the time of the event.
There could be more than one section here. If the same platform is involved with multiple incidents, then it can be linked to a main article page.
The Reality
This sections is included if a case involved deception or information that was unknown at the time. Examples include:
- When the service was actually started (if different than the "official story").
- Who actually ran a service and their own personal history.
- How the service was structured behind the scenes. (For example, there was no "trading bot".)
- Details of what audits reported and how vulnerabilities were missed during auditing.
What Happened
The specific events of the loss and how it came about. What actually happened to cause the loss and some of the events leading up to it.
| Date | Event | Description |
|---|---|---|
| November 29th, 2020 12:00:00 AM | Main Event | Expand this into a brief description of what happened and the impact. If multiple lines are necessary, add them here. |
Total Amount Lost
No funds were lost.
How much was lost and how was it calculated? If there are conflicting reports, which are accurate and where does the discrepancy lie?
Immediate Reactions
How did the various parties involved (firm, platform, management, and/or affected individual(s)) deal with the events? Were services shut down? Were announcements made? Were groups formed?
Ultimate Outcome
What was the end result? Was any investigation done? Were any individuals prosecuted? Was there a lawsuit? Was any tracing done?
Total Amount Recovered
There do not appear to have been any funds recovered in this case.
What funds were recovered? What funds were reimbursed for those affected users?
Ongoing Developments
What parts of this case are still remaining to be concluded?
Prevention Policies
No user funds were lost.
References
- ↑ SlowMist Hacked - SlowMist Zone (May 17, 2021)
- ↑ @RariCapital Twitter (Jul 23, 2021)
- ↑ Rari Capital 11 29 2020 Bug Resolved And Deployed (Jul 23, 2021)
- ↑ Rari Fund Token price today, RFT live marketcap, chart, and info | CoinMarketCap (Jul 23, 2021)
- ↑ Rari Capital (Jul 23, 2021)
- ↑ About (Jul 23, 2021)