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Rari Capital Reports Exploit in ETH Pool; $15M Taken

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Rari Capital announced there was an exploit in the Rari Capital ETH Pool related to its Alpha Finance Lab integration. In response, the rebalancer has removed all funds from Alpha.

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  • According to Etherscan, $15 million worth of ether was taken.
  • The price of the Rari Governance Token (RGT) fell more than 50%, from $17 to $8, before rebounding. It's currently trading at about $12.01.

Kevin Reynolds

Kevin Reynolds was the editor-in-chief at CoinDesk. Prior to joining the company in mid-2020, Reynolds spent 23 years at Bloomberg, where he won two CEO awards for moving the needle for the entire company and established himself as one of the world's leading experts in real-time financial news. In addition to having done almost every job in the newsroom, Reynolds built, scaled and ran products for every asset class, including First Word, a 250-person global news/analysis service for professional clients, as well as Bloomberg's Speed Desk and the training program that all Bloomberg News hires worldwide are required to take. He also turned around several other operations, including the company's flash headlines desk and was instrumental in the turnaround of Bloomberg's BGOV unit. He shares a patent for a content management system he helped design, is a Certified Scrum Master, and a veteran of the U.S. Marine Corps. He owns bitcoin, ether, polygon and solana.

Kevin Reynolds