NEAR Protocol DeFi Hub Rhea Finance Loses $7.6 Million in Oracle Exploit
NEAR Protocol’s largest Decentralized Finance (DeFi) hub, Rhea Finance, suffered a $7.6 million exploit after an attacker manipulated its oracle and validation layer.
Blockchain safety agency CertiK flagged the incident, confirming that property have been drained throughout a number of tokens.
How the Rhea Finance Exploit Unfolded
The attacker deployed faux token contracts and created fresh liquidity pools on the protocol. These swimming pools probably distorted worth feeds, deceptive the oracle into validating fraudulent transactions.
According to CertiK, no less than $7.6 million was extracted from Rhea Finance. Stolen funds included USDC, USDT, Zcash (ZEC), and NEAR (NEAR).
Vadim Zacodil, an ex-NEAR core contributor, confirmed the figures and warned customers to watch the situation carefully.
Withdrawals are presently halted because the group works to comprise additional injury.
“The attacker created faux token contracts and added liquidity in contemporary swimming pools, probably deceptive the oracle and validation layer,” CertiK noted.
Why This Matters for NEAR DeFi
Rhea Finance holds a dominant place in the NEAR ecosystem. Formed in early 2025 by means of the merger of Ref Finance and Burrow Finance, it serves because the primary DEX and lending layer on the community.
The protocol beforehand held over 95% of NEAR’s DeFi whole worth locked, making this exploit important for the whole chain’s DeFi infrastructure.
Oracle manipulation stays probably the most persistent vulnerabilities in DeFi, with attackers repeatedly exploiting untested worth feeds and skinny liquidity.
The coming days will reveal the total scope of losses and whether or not Rhea Finance can safe affected person funds.
The put up NEAR Protocol DeFi Hub Rhea Finance Loses $7.6 Million in Oracle Exploit appeared first on BeInCrypto.
