Gate News: Latest Crypto News and Cryptocurrency Prices

08:09

Golden Finance reported that stablecoin protocol Raft issued a document saying that based on the feedback received, we have edited the recovery plan to include all veRAFT holders in the recovery plan. The proposal will be open for feedback and suggestions until 23:59 UTC on 22 November 2023 (UTC).

05:00

PANews reported on November 13 that according to Paidun's monitoring, the address marked as a Raft attacker had previously burned 1,570 ETH, and now 140 ETH has been transferred to Tornado Cash.

ETH-4.06%

04:03

According to Paidun monitoring, the Raft attacker's address, which previously burned 1,570 ETH, is now transferring 140 ETH to Tornado Cash.

ETH-4.06%

03:13

Raft, a collateralized stablecoin protocol, said that the Raft protocol experienced a complex security incident that resulted in about $6.7 million of unsupported R being minted, Gold Finance reported. The hackers then sold R, which affected the price of R. Raft is currently working on a comprehensive recovery plan to compensate users affected by the incident. The Raft smart contract has been suspended. However, all R minters will still be able to repay their positions in full in order to recover their collateral. Raft strongly discourages speculative R purchases because the attacker retains the R minted from the event, so there is unsupported R in circulation. In addition, the current version of Raft will be phased out. RaftDAO will launch a new, secure version in the future, and the current priority is to establish a clear recovery plan for all affected users.

00:55

PANews reported on November 12 that stablecoin protocol Raft tweeted that it is developing a comprehensive recovery plan to compensate users affected by the attack, and will release details in the coming week. The Raft smart contract has been suspended, but all stablecoin R minters can repay their positions in full to recover the collateral. At the same time, Raft said that speculative buying of R is not recommended because there is unsecured R in circulation. The current version of Raft will be phased out, while the Raft DAO will work on launching a completely new secure version in the future.

13:21

Odaily Planet Daily News Stablecoin protocol Raft officially issued a document on the X platform saying that it is developing a comprehensive recovery plan and will release details in the next week to compensate users affected by the incident. Currently, the Raft contract has been suspended, but all stablecoin R minters can repay in full to reclaim the collateral. At the same time, Raft officials said that speculative trading of R is not recommended because there is unsupported R in circulation. In the future, the current version of Raft will be phased out, and Raft DAO will work on a new and secure version. Previously, the stablecoin protocol Raft was attacked this morning, with a loss of about $3.3 million. The attackers minted the stablecoin R and then sold it to drain the liquidity of the automated market maker while withdrawing collateral from Raft. As a result, the price of stablecoin R plummeted, starting from 2:50 Beijing time, and the price fell by up to 86.59% on the day.

08:47

According to CoinMarketCap, the stablecoin R is now trading at $0.1586, down 84.22% in 24 hours, according to CoinMarketCap. Previously, the stablecoin protocol Raft was attacked this morning, with a loss of about $3.3 million. The attackers minted the stablecoin R and then sold it to drain the liquidity of the automated market maker while withdrawing collateral from Raft.

01:16

PANews reported on November 11 that PeckShield tweeted that the stablecoin protocol Raft hack led to the minting of about $6.7 million in unsecured stablecoin R. The analysis revealed that the hackers manipulated the rcbETH-c index of the collateralized token to borrow/mint $6.7 million in R, and then minted additional rcbETH-c in order to fully redeem the donation.

01:10

Odaily Planet Daily News The stablecoin protocol Raft was attacked this morning, with a loss of about $3.3 million. The attackers minted the stablecoin R and then sold it to drain the liquidity of the automated market maker while withdrawing collateral from Raft. On-chain data shows that the attacker stole 1,577 ETH in this attack, and then sent 1,570 ETH to the destruction address to destroy most of the stolen assets, leaving only 7 ETH for himself. But the hacker address received 18 ETH via Tornado Cash before the attack, which could be used to fund transactions. After executing the transfer and paying the blockchain fees, the attacker's crypto wallet was left with only 14 ETH, 4 ETH less than before the attack. As a result of the attack, RAFT fell to $0.0052, a 25% drop in 24 hours, and the stablecoin R was unpegged and fell 50% in a short period of time. （CoinDesk）

23:00

PANews reported on November 11 that according to CoinDesk, the stablecoin protocol RaftRaft was hacked and lost about $3.3 million in ETH. On-chain data shows that the attacker stole 1,577 ETH from Raft and then sent 1,570 ETH to the burn address, leaving only 7 ETH. The hacker address received 18 ETH via Tornado Cash before the attack, which could be used to fund transactions. After executing the transfer and paying the blockchain fee, there was only 14 ETH left in its crypto wallet, which means that the attacker lost 4 ETH in the entire operation. Coinmarketcap data shows that stablecoin R was unpegged 50% after the attack and has now rebounded to $0.87. Raft tweeted that the team is aware of a potential security breach and is currently investigating. The minting of the stablecoin R has been suspended, and existing users are still able to repay their positions and receive collateral.

22:58

DeFi platform Raft was hacked in the early hours of this morning, losing about $3.3 million in ETH, Coinmarketcap data shows that Raft's dollar-pegged stablecoin R plunged 50% for a short time, but then rebounded to around 70 cents, and is currently trading at $0.89, down 10.64% in 24 hours. Raft co-founder David Garai confirmed the attack in Platform X, saying that hackers minted R tokens and then sold them to drain the liquidity of the automated market maker while withdrawing collateral from Raft.

20:28

Pledged stablecoin protocol Raft said on platform X that the team is aware of potential security vulnerabilities and is currently investigating, further minting of R has been suspended, and existing users are still able to repay their positions and receive collateral, Gold Finance reported.

02:21

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09:46

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09:33

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05:08

Collateralized stablecoin protocol Raft announced on the X platform that 1.5% of the total supply of the token RAFT (37.5 million RAFTs) has been allocated to the first wave of RAFT airdrops. Eligibility checks, pickups, and RAFT listings will open on October 11, 2023 at 20:00 (UTC+8). The airdrop snapshot was taken at 00:30 on September 29, 2023 (UTC+8).

04:41

According to news on September 14, Raft, a collateralized stablecoin protocol based on stETH, has launched the v2 version of the interest rate vault. Users can use wstETH, rETH, cbETH, swETH, and WETH as collateral to generate stablecoin R.

05:47

Oil Market Watch: Global oil balance may face major changes

Oil prices were slightly softer at the start of the week, but that may not last long. There will be a slew of well-informed comments from market watchers from OPEC, the International Energy Agency and the U.S. government in the coming days, which will unveil the impact of extended production cuts by Saudi Arabia and Russia on the global oil balance in the fourth quarter and early 2024. Now that Saudi Arabia and Russia have pledged to maintain voluntary production cuts at least through the end of the year, a raft of forecast revisions are expected to suggest faster drawdowns in inventories, which in turn could provide room for higher oil prices. On Tuesday, OPEC will release a monthly report providing in-depth analysis of the global crude oil market, followed by the EIA's short-term energy outlook, and on Wednesday, the IEA will release a report. Last time around, the IEA had highlighted the threat of sharp declines in inventories, record demand and rising oil prices. Information it is expected to release this week, along with information from the other two agencies, is likely to have a more urgent tone.

00:30

PANews reported on September 5 that according to the official The mutual exchange between DAI and R is to maintain the exchange rate peg of R; in addition, the one-time fee vault for stETH and rETH lending has been suspended, and all borrowers will not be affected, and a new interest rate vault will be launched later.

15:11

Odaily Planet Daily News The stablecoin protocol Raft announced that, taking into account market volatility, it will increase the collateral ratio requirement of the stablecoin R from 110% to 120%.

14:41

Odaily Planet Daily News Stablecoin issuer Raft launched the stablecoin R, which is backed by a single encrypted asset Lido Staked Ether (stETH). The stablecoin began trading on Monday, using hard and soft pegs to keep its price around $1, according to documents for the agreement. Hard pegs rely on arbitrage to maintain a stable price, while soft pegs rely on incentivizing users to act based on "the expectation that the peg will remain in the future."

Oil Market Watch: Global oil balance may face major changes

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