Rhea Finance
Last changed 2026-11-02 · Fact-check review — Fact-check review (verdict: revise): the reviewer checked the page's claims against its sources; the trust score was recalculated from the page's findings, 54 → 57. Version history →
Why this score
| Every page starts at | 65 |
| Incidents it suffered (e.g. hacks) | -20 |
| Problems around it, caused by others | -0.3 |
| Long-running | +2 |
| Sum | 47 |
- The penalty for incidents it suffered is capped at 20 points.
- 2 sections set aside: the claims did not hold up in a fact-check, pending correction.
Score: 57/100 (kept between 0 and 100)
How scoring works →Page reliability: Fact-checked 2026-11-02 · 3 of 8 claims confirmed · 3 need better sources · 1 disputed · 1 out of date
anchored·2t11s1…uJnESummary
Rhea Finance is a chain-abstracted DeFi liquidity hub on the NEAR Protocol, formed in early 2025 through the merger of Ref Finance and Burrow Finance. On April 16, 2026, the protocol suffered a major exploit in which an attacker bypassed slippage protection in its margin trading module using intermediate asset reuse across a chain swap path, ultimately draining an estimated $18.4 million from the reserve pool — more than double the initial $7.6 million estimate. Approximately $9.2 million was subsequently returned or frozen, with the remainder still outstanding as of mid-2026; a compensation framework was announced but had not been finalized at the time of publication.
Incidents (1)
- Rhea Finance Exploit (April 2026)added 2026-06-08
Connected Entities
7 entities · 60 linked investigations- Ethereum→mentioned with→Bitcoin(60%)
- Tether→mentioned with→Bitcoin(60%)
- Bitget→mentioned with→Bitcoin(60%)
- Solana→mentioned with→Ethereum(60%)
- Rhea Finance→mentioned with→Ethereum(60%)
- Rhea Finance→mentioned with→Arbitrum(60%)
- Rhea Finance→mentioned with→Bitcoin(60%)
- Rhea Finance→mentioned with→Bitget(60%)
- Rhea Finance→mentioned with→Tether(65%)
- Rhea Finance→mentioned with→Solana(60%)
- + 2 more
Connected Through
7 shared actors · 635 investigationsDistinct actors this investigation shares with others — holders, traders, and named parties. Shared infrastructure (exchanges, pools) is excluded.
- □Ethereumorganization
- ♦Bitcointoken
- □Solanaorganization
- □Arbitrumorganization
Timeline(6 events)
March 2025
Ref Finance and Burrow Finance announce merger to form Rhea Finance, NEAR Protocol's unified DeFi liquidity hub.
Rhea Finance Medium / NEAR Protocol13 April 2026
Attacker begins exploit preparation: creates subject wallet, begins distributing funds across 423 intermediary wallets, deploys fake token contracts, and establishes eight fraudulent trading pools on Ref Finance.
Coin Edition / Post-Mortem16 April 2026
Exploit executed: attacker exploits slippage protection bypass in Rhea Finance's margin trading module, draining the reserve pool. CertiK reports initial loss of approximately $7.6 million. Rhea Finance pauses lending contracts.
Crypto Times / CertiK16 April 2026
Tether CEO Paolo Ardoino announces approximately $3.29 million in USDT connected to the attacker has been frozen.
BeInCrypto17 April 2026
Rhea Finance releases post-mortem revising total losses upward to $18.4 million — more than double the initial estimate — and confirming the slippage protection flaw as root cause. Attacker returns approximately $3.359 million USDC and $1.564 million NEAR to lending contract.
The Block / AMBCrypto18 April 2026
Aurora Labs and Near Intents co-founder Alex Shevchenko sends on-chain message to attacker stating identification and associated accounts have been traced; formal traces opened with centralized exchanges. Crypto Times fact-check finds claims of full fund recovery unverified.
Crypto Times Fact Check / Coin EditionDecision Log
- slot 464345293 · hash 2kPX7vDjriykfHxh6FvEd3ZwH4LL1EHFRqbpoYKpzWYN
- slot 464345288 · hash 5L6SwBZu9NDXbTfKKEyyeSegNCrjPfs9Ga7YYevu9cgm
- slot 464345283 · hash GeQq8ofohzCFQYCL7EyisEbRWGYki5z2ycHF8Ft2Ks6t
- slot 455365974 · hash R1Z7Yrq482prdW8iJH5G6XC7Yhd7PudjZNABeFa4y4N
- slot 427503459 · hash 87MbNFB1a9G8FYGFQVTTxoaaGcwb2PiRnqhri3vxR1e9
This investigation is cryptographically anchored to the Solana blockchain (5 decisions). 12 of 14 cited source URLs have an Internet Archive snapshot.
model: claude-sonnet-4-6
generated: 6/19/2026, 12:12:02 PM
last updated: 11/2/2026, 3:32:22 AM
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