Raft: We are working with law enforcement, CEX and other parties to identify the attackers

In response to the incident that occurred last week, the stablecoin protocol Raft officially issued a statement stating that it has submitted an incident report to the police and is cooperating with law enforcement agencies, centralized exchanges and other parties to identify the attacker. Raft also said that it is working on a detailed recovery plan to compensate all users affected by the incident in the fairest way possible. According to previous news, the stablecoin protocol Raft was attacked this morning, with the damage amounting to approximately US$3.3 million. The attacker minted stablecoin R and then sold it to drain the automated market maker’s liquidity while simultaneously withdrawing collateral from Raft. As a result, the price of stablecoin R plummeted, and the price began to unanchor at 2:50 Beijing time, with a maximum drop of 86.59% that day.