Tribe DAO to Repay the Victims of $80 Million Exploit

After several months of deliberating and a few rounds of voting, Tribe DAO has now made the decision to fully reimburse victims of the Rari Capital hack.

The hack, which occurred in late April, saw the attacker take off with more than $80 million by exploiting a vulnerability in Rari’s Fuse lending protocol. Tribe DAO, which consists of Rari Capital, Fei Protocol, Volt Protocol, and Midas Capital, then offered $10 million to the hacker should he return the stolen funds. It still hasn’t been disclosed whether that eventually happened or not.

Either way, Tribe DAO will pay some 12 million FEI to individual victims of the exploit, and 26 million DAI to DAOs. According to data provided by the voting platform Tally, 99% of votes at the latest round were in favor of reimbursing Rari users.