The #Decentralized Finance ( #DeFi ) platform #Raft temporarily halted the minting of its #Rstablecoin due to a security vulnerability that led to a substantial loss. The attack involved an assailant minting R tokens, draining liquidity from the automated market maker, and withdrawing collateral concurrently. Raft co-founder David Garai confirmed the incident and stated that the company is actively investigating while assuring users that loan repayments and collateral retrieval can proceed unaffected. The R stablecoin's price plummeted from $1 to $0.18 as a result of the security breach. The hacker reportedly exploited the system, causing a significant amount of ether to be burned. However, a coding error led the funds to be irretrievably sent to a null address instead of the hacker's, resulting in a net loss for the exploiter. Raft is now focused on securing user operations and restoring stability to its platform.