Fei Protocol will fully reimburse the victims of the hack with 80 million dollars

Chain Catcher news, Tribe DAO's fourth vote has decided that Fei Protocol will repay $80 million in stolen funds to the victims of the hack that occurred in April, with the repayment plan set to be launched this week.

Previously reported, at the end of December last year, the algorithmic stablecoin protocol Fei Protocol merged with the DeFi lending protocol Rari Capital, combining two protocols worth billions of dollars into Tribe DAO. On April 30 of this year, Rari Capital's liquidity pool on Fuse was hacked, resulting in approximately 28,380 ETH being stolen, with losses around $80 million.

Since then, Tribe DAO has initiated multiple votes on how to compensate the victims of the hack. The first vote resulted in a decision for full repayment, but the Fei team did not execute this proposal. After initiating another vote and deciding on partial repayment, which faced widespread skepticism from the community, they then initiated another vote to decide on full repayment. (source link)