Raft official: We are formulating a recovery plan to compensate users for their losses and do not recommend speculative trading in R

The stablecoin protocol Raft officially posted on the X platform that it is formulating a comprehensive recovery plan and will release details in the next week to compensate users affected by the incident. Currently, the Raft contract is paused, but all minters of stablecoin R can repay their stake in full. At the same time, Raft officials stated that speculative trading of R is not recommended because there is unsupported R in circulation. In future plans, the current version of Raft will be phased out, and Raft DAO will work on launching a new and secure version. According to previous news, the stablecoin protocol Raft was attacked this morning, with the damage amounting to approximately US$3.3 million. The attacker minted stablecoin R and then sold it to drain the automated market maker’s liquidity while simultaneously withdrawing collateral from Raft. As a result, the price of stablecoin R plummeted, and the price began to unanchor at 2:50 Beijing time, with a maximum drop of 86.59% that day.