Babylon Finance

Affected by the Rari Capital vulnerability

Estimated loss

$3.40M

VERDICT —UNRATED

Verdict pending. Auto-ingested incidents are reviewed before a public verdict is rendered.

▰ METHOD

Undisclosed

Root cause

Root-cause analysis not yet published. The incident description below contains all currently available signal — review the attack transaction directly for definitive forensics.

Forensic narrative

In April, attackers exploited a vulnerability to steal $80 million from Rari Capital, and the asset management project Babylon Finance, Rari's main lending pool, lost $3.4 million as a result. On Aug. 31, Babylon Finance founder Ramon Recuero published a blog post announcing that Babylon would be shutting down and pledging to distribute remaining project funds to holders. Attack method (per SlowMist): Affected by the Rari Capital vulnerability. Reported loss: $ 3,400,000.

Primary source

https://medium.com/babylon-finance/babylon-finance-is-shutting-down-b58abf1bc251 ↗

Sourced from

slowmist

Technical record