Verify a decision

{"actor":"system:backfill","investigation_id":"d698a662-4475-4ba2-8148-1f4f2c80009a","kind":"publish","page_slug":"fei-rari","published_at":"2026-05-30T18:29:19.006Z","sequence_num":1,"snapshot":{"content_type":"investigation","entity_name":"Fei Protocol / Rari Capital","sections":[{"content":"","heading":"","severity":"medium","sources":[{"credibility":3,"name":"https://www.coindesk.com/tech/2021/12/21/rari-capital-fei-protocol-token-holders-approve-multibillion-dollar-defi-merger","type":"other","url":""},{"credibility":3,"name":"https://thedefiant.io/news/defi/rari-capital-fei-merger","type":"other","url":""}]},{"content":"","heading":"","severity":"medium","sources":[{"credibility":3,"name":"https://rekt.news/fei-rari-rekt","type":"other","url":""},{"credibility":3,"name":"https://www.coindesk.com/business/2022/04/30/defi-lender-rari-capitalfei-loses-80m-in-hack","type":"other","url":""},{"credibility":3,"name":"https://www.theblock.co/linked/144511/hackers-steal-80-million-from-rari-capitals-lending-pools","type":"other","url":""}]},{"content":"","heading":"","severity":"medium","sources":[{"credibility":3,"name":"https://www.certik.com/resources/blog/6LiXVtPQ8q5AQfqOUPnTOS-revisiting-fei-protocol-incident","type":"other","url":""},{"credibility":3,"name":"https://medium.com/@JackLongarzo/fuse-exploit-post-mortem-76ce18d8974","type":"other","url":""},{"credibility":3,"name":"https://blog.solidityscan.com/rari-capital-re-entrancy-vulnerability-analysis-25df2bbfc803","type":"other","url":""}]},{"content":"","heading":"","severity":"medium","sources":[{"credibility":3,"name":"https://cointelegraph.com/news/rari-fuze-hacker-offered-10m-bounty-by-fei-protocol-to-return-80m-loot","type":"other","url":""},{"credibility":3,"name":"https://decrypt.co/99103/fei-protocol-offers-10m-bounty-after-80m-rari-capital-exploit","type":"other","url":""},{"credibility":3,"name":"https://rekt.news/fei-rari-rekt","type":"other","url":""}]},{"content":"","heading":"","severity":"medium","sources":[{"credibility":3,"name":"https://www.halborn.com/blog/post/explained-the-rari-capital-hack-may-2021","type":"other","url":""},{"credibility":3,"name":"https://cryptobriefing.com/after-11m-hack-rari-capital-team-reimburse-lost-funds/","type":"other","url":""},{"credibility":3,"name":"https://cointelegraph.com/news/rari-capital-falls-victim-to-11-million-exploit","type":"other","url":""}]},{"content":"","heading":"","severity":"medium","sources":[{"credibility":3,"name":"https://cointelegraph.com/news/tribe-dao-votes-in-favor-of-repaying-victims-of-80m-rari-hack","type":"other","url":""},{"credibility":3,"name":"https://decrypt.co/110102/tribe-dao-votes-repay-rari-capital-hack-victims-again","type":"other","url":""},{"credibility":3,"name":"https://protos.com/tribe-kills-dao-overrules-vote-to-pay-crypto-debt/","type":"other","url":""}]},{"content":"","heading":"","severity":"medium","sources":[{"credibility":3,"name":"https://www.sec.gov/newsroom/press-releases/2024-138","type":"other","url":""},{"credibility":3,"name":"https://www.coindesk.com/policy/2024/09/18/defi-lending-platform-rari-capital-settles-sec-charges","type":"other","url":""},{"credibility":3,"name":"https://cryptobriefing.com/sec-rari-capital-settlement/","type":"other","url":""}]},{"content":"","heading":"","severity":"medium","sources":[{"credibility":3,"name":"https://medium.com/@JackLongarzo/fuse-exploit-post-mortem-76ce18d8974","type":"other","url":""},{"credibility":3,"name":"https://www.certik.com/resources/blog/6LiXVtPQ8q5AQfqOUPnTOS-revisiting-fei-protocol-incident","type":"other","url":""},{"credibility":3,"name":"https://securityaffairs.com/130768/hacking/80m-hack-defi-rari-capital-fei-protocol.html","type":"other","url":""}]}],"sources_used":[],"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.","timeline":[{"date":"2021-05-08","event":"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.","source":""},{"date":"2021-11-23","event":"Rari Capital and Fei Protocol announce a planned merger into a unified entity to be called Tribe DAO.","source":""},{"date":"2021-12-21","event":"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.","source":""},{"date":"2022-04-30","event":"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.","source":""},{"date":"2022-04-30","event":"Fei Protocol offers attacker a $10 million bounty with no questions asked to return stolen funds. The offer is not accepted.","source":""},{"date":"2022-05-01","event":"Follow-up attack on Rari's Arbitrum deployment results in approximately 100 ETH in additional losses.","source":""},{"date":"2022-05-01","event":"Attacker deposits approximately 5,400 ETH (~$15 million) into Tornado Cash and then halts fund movements, leaving approximately $62.7 million unreturned.","source":""},{"date":"2022-05-01","event":"Initial Tribe DAO governance vote on repaying hack victims passes with approximately 75% support, but subsequent execution proposals are vetoed.","source":""},{"date":"2022-08-19","event":"Fei Labs proposes winding down Tribe DAO, citing the macroeconomic environment and the Fuse hack fallout as key reasons.","source":""},{"date":"2022-09-20","event":"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.","source":""},{"date":"2022-09-20","event":"Tribe DAO ceases active governance operations following the repayment vote, effectively shutting down.","source":""},{"date":"2024-09-18","event":"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.","source":""},{"date":"2024-09-19","event":"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.","source":""}]},"v":1}