PeckShield: Raft hack led to around $6.7 million in uncollateralized stablecoin R being minted
By:Cointime
PeckShield analysis found that the hack of the collateralized stablecoin protocol Raft resulted in approximately $6.7 million worth of uncollateralized stablecoin R being minted. Analysis shows that the hacker took advantage of a round of issuance and donation: (1) manipulating the rcbETH-c index of the collateral token, borrowing/minting $6.7 million worth of R; (2) minting additional rcbETH-c to fully redeem the donation.
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