$3 Million in DAI and ETH Stolen From Deus Finance in the Latest DeFi Hack

Deus Finance was exploited, according to data from PeckShield, with the attacker swiping around $3 million in DAI and Ethereum (ETH). The blockchain security company explained that the hack was due to a flash-loan manipulation of a price oracle.

PeckShield took it to Twitter on March 15 to outline the latest hack in the decentralized finance industry. This time, it was against Deus Finance – a multi-token DeFi marketplace allowing customers to build synthetic stocks, trading platforms, and other instruments.
The security resource attributed the attack to a “flash-loan-assisted manipulation of price oracle that reads the price from the pair of StableV1 AMM – USDC/DEI, so that even normal users, unfortunately, become insolvent!”
The firm said the hacker stole 200,000 DAO and 1101.8 ETH – or around $3 million worth of digital assets. However, it warned that the losses for Deus Finance could be even worse.
PeckShield also informed that the perpetrator funneled the funds to the cryptocurrency mixer TornadoCash through Multichain (previously Anyswap).

4) The initial funds to launch the hack are withdrawn from @TornadoCash and tunneled to Fantom via @MultichainOrg. The result gains are tunneled via @MultichainOrg and funds are now washed via @TornadoCash. pic.twitter.com/UlJgiJMsa6

— PeckShield Inc. (@peckshield) March 15, 2022

Shortly after, the team behind Deus Finance confirmed the reports about the exploit on Twitter. They explained that the DEI lending contract has been closed, and “both DEUS and DEI are unaffected.” The team also promised to provide updates as it goes on with its investigation.

Read More?

Post is imported from RSS feed, by one of our guest editors. G6 does not edit or moderate the content. G6 is not responsible for your actions. No rights owned by G6. To remove the post, please email us at [email protected]

No Comments

Sorry, the comment form is closed at this time.