PANews reported on April 17th that Rhea Finance issued an update regarding yesterday's security incident, stating that the team is focused on protecting users and coordinating with all parties to recover funds. Preliminary analysis indicates that attackers exploited a vulnerability in Rhea's leveraged trading feature to execute a coordinated pool manipulation attack. The Rhea Lend smart contract was affected, while the Rhea DEX contract was unaffected. Both contracts are currently suspended for protection. The team is actively recovering funds and communicating with relevant parties regarding the return of remaining funds. The team has engaged a security team to conduct an in-depth forensic investigation, track fund movements in real time, and coordinate recovery efforts, while also notifying relevant law enforcement agencies. A full incident analysis report will be released later.

Earlier reports yesterday indicated that RheaFinance was attacked by fake token contracts, resulting in the theft of approximately $7.6 million .