Fei Protocol / Rari Capital

2021-05-08

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.

2021-11-23

Rari Capital and Fei Protocol announce a planned merger into a unified entity to be called Tribe DAO.

2021-12-21

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.

2022-04-30

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.

2022-04-30

Fei Protocol offers attacker a $10 million bounty with no questions asked to return stolen funds. The offer is not accepted.

2022-05-01

Follow-up attack on Rari's Arbitrum deployment results in approximately 100 ETH in additional losses.

2022-05-01

Attacker deposits approximately 5,400 ETH (~$15 million) into Tornado Cash and then halts fund movements, leaving approximately $62.7 million unreturned.

2022-05-01

Initial Tribe DAO governance vote on repaying hack victims passes with approximately 75% support, but subsequent execution proposals are vetoed.

2022-08-19

Fei Labs proposes winding down Tribe DAO, citing the macroeconomic environment and the Fuse hack fallout as key reasons.

2022-09-20

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.

2022-09-20

Tribe DAO ceases active governance operations following the repayment vote, effectively shutting down.

2024-09-18

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.

2024-09-19

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.