Incident All ledgers

Rari Capital: $80.0m

Rari Capital lost $80.0m on 1 May 2022. Ranked 52nd of 1,272 crypto failures, with method, returned funds and comparable incidents.

Date: 1 May 2022
Lost: $80.0m
Returned or repaid: None recorded
Target: DeFi Protocol
Category: Reentrancy
Method: Reentrancy
Chains: Ethereum, Arbitrum

An attacker exploited a reentrancy flaw in the exitMarket() function of Rari Capital's Fuse lending pools, using a Balancer flashloan to borrow repeatedly and pull collateral before borrow records updated. Losses were about $80 million, including roughly 28,380 ETH.

Against the ledger

It ranks 52nd of the 1,272 incidents with a known loss, and 11th in 2022.
It accounts for 63.6% of the $125.7m in known losses in May 2022.
61 incidents in the ledger are classified as Reentrancy, for $458.1m in total. This one is 17.5% of that.
The ledger records no returned funds.

Other incidents named Rari

Date	Target	Lost	Type	Method	Returned
08 May 2021	Rari Capital	$10.0m	DeFi Protocol	Arbitrary External Call	—
18 Dec 2025	Rari Capital	$2.0m	DeFi Protocol	Uninitialized Proxy	—

Closest in size by the same method

Date	Target	Lost	Type	Method	Returned
30 Jul 2023	Curve DEX	$61.7m	DeFi Protocol	Vyper Compiler Bug	—
17 Jun 2016	The DAO	$60.0m	DeFi Protocol	Reentrancy	—
09 Jul 2025	GMX V1 EVM	$42.0m	DeFi Protocol	Reentrancy	$40.0m
18 Dec 2021	Grim Finance	$30.0m	DeFi Protocol	Reentrancy	—
03 Sept 2024	Penpie	$27.0m	DeFi Protocol	Reentrancy	—

All failures in 2022 · The failures ledger

Amounts are DefiLlama’s estimates and can change as incidents are revalued. Its returned figure can include money a company repaid itself, not only funds recovered from attackers. Source: DefiLlama.

Cite this Bitminer.io, “Rari Capital, failures ledger”, data to 2 November 2026, https://bitminer.io/ledger/incident/rari-capital-2022-05-01/. How this is built