Fei Protocol / Rari Capital
Last changed 2026-10-10 · Score recalculated — Rescored under Scoring v2, the published formula (avoid.net/scoring): 6 → 43. Problems weighed by who is responsible: incidents the subject suffered −12.8, the subject's own conduct −8, concerns that are not fraud −6.4, problems around the subject, caused by others −0.8; legitimacy credit long-running +6. Version history →
Why this score
| Every page starts at | 65 |
| The subject's own conduct | -8 |
| Concerns that are not fraud | -6.4 |
| Incidents it suffered (e.g. hacks) | -12.8 |
| Problems around it, caused by others | -0.8 |
| Long-running | +6 |
| Sum | 43 |
Score: 43/100 (kept between 0 and 100)
How scoring works →Summary
Fei Protocol and Rari Capital merged in December 2021 under Tribe DAO to form a combined DeFi liquidity and lending platform. On April 30, 2022, a reentrancy attack targeting a known flaw in the Compound Finance codebase drained approximately $80 million from seven Rari Fuse lending pools. Tribe DAO ultimately wound down in late 2022 following contentious governance disputes over victim compensation, and Rari Capital's co-founders faced SEC enforcement action in 2024.
Connected Entities
5 entities · 60 linked investigations- Fei Protocol→mentioned with→Rari Capital(80%)
- Fei Protocol / Rari Capital→mentioned with→Rari Capital(80%)
- Fei Protocol / Rari Capital→mentioned with→Fei Protocol(80%)
- Rari Capital→mentioned with→Fei Protocol(80%)
- Fei Protocol→mentioned with→Ethereum(75%)
- Rari Capital→mentioned with→Ethereum(80%)
- Fei Protocol / Rari Capital→mentioned with→Ethereum(75%)
- Fei Protocol / Rari Capital→mentioned with→Arbitrum(65%)
- Arbitrum→mentioned with→Ethereum(80%)
Timeline(13 events)
8 May 2021
Rari Capital suffers first major exploit: approximately $11 million stolen from its Ethereum pool via a price manipulation attack on Alpha Finance's ibETH contracts. The Rari team foregoes personal token allocations to reimburse users.
23 November 2021
Rari Capital and Fei Protocol announce a planned merger into a unified entity to be called Tribe DAO.
21 December 2021
Token holders of both protocols vote to approve the merger. RGT holders vote 93% in favor; TRIBE holders vote 90% in favor. The combined protocols hold approximately $2 billion TVL.
30 April 2022
Reentrancy attack drains approximately $79.75 million from seven Rari Fuse pools (8, 18, 27, 127, 144, 146, 156) over roughly 35 minutes starting at 09:00 UTC. Attacker address: 0x6162759edad730152f0df8115c698a42e666157f. Borrowing is paused globally.
30 April 2022
Fei Protocol offers attacker a $10 million bounty with no questions asked to return stolen funds. The offer is not accepted.
May 2022
Follow-up attack on Rari's Arbitrum deployment results in approximately 100 ETH in additional losses.
May 2022
Attacker deposits approximately 5,400 ETH (~$15 million) into Tornado Cash and then halts fund movements, leaving approximately $62.7 million unreturned.
May 2022
Initial Tribe DAO governance vote on repaying hack victims passes with approximately 75% support, but subsequent execution proposals are vetoed.
19 August 2022
Fei Labs proposes winding down Tribe DAO, citing the macroeconomic environment and the Fuse hack fallout as key reasons.
20 September 2022
Final Tribe DAO governance vote passes with 99% support, authorizing partial repayment of hack victims: 12.68 million FEI to individual victims and 26.61 million DAI to affected DAOs.
20 September 2022
Tribe DAO ceases active governance operations following the repayment vote, effectively shutting down.
18 September 2024
SEC announces settled charges against Rari Capital, Inc. and co-founders Jai Bhavnani, Jack Lipstone, and David Lucid for misleading investors and acting as unregistered brokers.
19 September 2024
U.S. District Court for the Central District of California enters final judgments against Rari Capital and its co-founders. Five-year officer-and-director bars are imposed on all three founders.
Decision Log
- slot 455362919 · hash 4rEbwhgs6S6dczHoyV9qHgZVhyus4xiMG4vytcLeGpDB
- slot 423211011 · hash HF5kUnAeLxnEfXmAMyvxdqKwxT8j5NTdUEXmQ4qL3HTw
This investigation is cryptographically anchored to the Solana blockchain (2 decisions). 18 of 20 cited source URLs have an Internet Archive snapshot.
model: claude-sonnet-4-6
generated: 5/30/2026, 6:29:15 PM
last updated: 10/10/2026, 6:42:56 PM
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