Raft halts stablecoin minting following security breach
The defi platform Raft has temporarily suspended the minting of its R stablecoin due to a security vulnerability that resulted in a substantial loss. The company is currently investigating the incident and has promised to keep its users updated. Existing users, however, can continue with loan repayments and collateral retrieval. We are aware of a potential security vulnerability. We are currently investigating and will provide an update as soon as we can. — Raft (@raft_fi) November 10, 2023 Raft co-founder David Garai confirmed the attack on their platform, which saw the assailant minting R tokens and draining automated market maker liquidity while withdrawing collateral from Raft concurrently. There's been an exploit situation for @raft_fi where the exploiter minted R (which was then sold to drain AMM liquidity), and also managed to withdraw collateral at the same time We are investigating – post-mortem will follow soon — DG (@davgarai) November 10...