PeckShield analysis found that the hack of the collateralized stablecoin protocol Raft resulted in approximately $6.7 million worth of uncollateralized stablecoin R being minted. Analysis shows that the hacker took advantage of a round of issuance and donation: (1) manipulating the rcbETH-c index of the collateral token, borrowing/minting $6.7 million worth of R; (2) minting additional rcbETH-c to fully redeem the donation.