Raft Suffers $3.3M Exploit That Drove Down Stablecoin 50%, but Hacker Likely Lost Money on Attack

Decentralized finance (DeFi) platform Raft lost some $3.3 million in ether (ETH) after being hacked Friday afternoon – but the attacker may have suffered a loss on the heist.

On-chain data shows that the attacker drained 1,577 ETH from Raft, then sent 1,570 ETH to a burn address – destroying most of the stolen assets and leaving only 7 ETH for themselves. The hacker’s address received 18 ETH via crypto mixer service Tornado Cash before the attack, blockchain data on Arkham shows, likely to fund transactions.

After executing the transfers and paying the blockchain fees, the exploiter’s crypto wallet was left with only 14 ETH, fewer funds than

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