RHEA Finance Security Incident Update: About a $400k shortfall remains, with a commitment to fully compensate it

RHEA Finance has released a follow-up update regarding the security incident on April 16, confirming that there has been substantive progress in the asset recovery effort. As of this update, an estimated funding gap of approximately $400k still remains, mainly stemming from a combination of NEAR, USDT, and USDC in the lending market liquidity pool. RHEA Finance commits to fully cover any remaining gap to ensure that all affected users receive complete reimbursement.

Status of Asset Recovery and Remaining Funding Gap

According to RHEA Finance’s updated statement, since the last disclosure on April 17, 2026, there has been substantive progress in asset recovery. The team is actively communicating with the relevant parties to discuss the return of remaining funds. RHEA Finance estimates that there is still an approximate $400k gap, mainly made up of a combination of NEAR, USDT, and USDC, which is suspected to have been converted into ZEC.

In its statement, RHEA Finance said taking responsibility for the entirety of this loss is an “unconditional obligation to the community,” and all affected users will receive full compensation.

Law Enforcement Notifications and Ecosystem Coordination

According to the RHEA Finance statement, the cooperating parties currently being actively coordinated include: on the NEAR ecosystem side, developer community groups such as Defuse Labs, Proximity, and FastNear are helping with on-chain evidence collection, contract-level investigation, and preparation for legal responses; under the Zcash Community Grants Program (ZCGP), a member is monitoring, within technically feasible limits, the ZEC-priced fund movements related to the protected fund pool; regarding law enforcement, the relevant enforcement agencies have been notified, and external legal and investigative resources are stepping in. RHEA Finance states that, to protect the integrity of the investigation, it will not disclose further details for now.

Agreement Status: DEX Reopened, Margin Trading Permanently Suspended, Lending to Restart in May

According to the RHEA Finance statement, the RHEA DEX was not directly affected by this incident. All fraudulent token contracts and liquidity pools have been identified and removed, and the DEX was reopened several hours before the update was published. At the same time, RHEA Finance announced the permanent suspension of the margin trading functionality on the NEAR protocol, citing both the specifics of this incident and adjustments to a broader strategic direction.

For the lending agreement, RHEA Finance plans to restart in phases during the first week of May 2026. The exact schedule will depend on the status of remediation completion, verification of progress, and overall market conditions. Preconditions before restarting include: freezing and unlocking funds with verification, upgrading the smart contracts and strengthening security, deploying real-time monitoring bots, and completing a comprehensive agreement security audit with external security audit companies.

Frequently Asked Questions

How large is the remaining funding gap in this RHEA Finance update?

According to RHEA Finance’s security incident update statement, the estimated remaining funding gap is approximately $400k. It is mainly made up of a combination of NEAR, USDT, and USDC in the lending market liquidity pool, which is suspected to have been converted into ZEC. RHEA Finance commits to fully cover it and ensure that affected users receive complete reimbursement.

Which cooperating institutions are involved during RHEA Finance’s investigation?

According to RHEA Finance’s statement, the cooperating parties include Defuse Labs, Proximity, and FastNear from the NEAR ecosystem; the Zcash Community Grants Program (ZCGP); and the relevant law enforcement agencies that have been notified, with external legal and investigative resources already involved.

When will RHEA Finance’s lending business restart?

According to RHEA Finance’s statement, the lending business plan will restart in phases during the first week of May 2026. Preconditions include completing remediation, smart contract upgrades, security audits, and deploying real-time monitoring systems.