Rhea Finance has released an investigation report into the attack, revealing that approximately $18.4 million was stolen, with some funds already recovered.

CoinFeed reported on April 18 that Rhea Finance issued an update regarding a security incident, stating that its lending market suffered an unauthorized attack on April 16, compromising its leveraged trading functionality. Attackers exploited a vulnerability in the slippage protection mechanism to steal approximately $18.4 million in assets from the protocol's reserve pool, resulting in actual losses within the protocol, affecting reserve balances and participating users. The attackers deposited approximately 3.359 million USDC and 1.564 million NEAR back into the RHEA lending contract, while freezing 4.34 million USDT (of which 3.291 million USDT was frozen by Tether in the attacker's wallet, and 1.053 million USDT was frozen in NEAR Intent).