Deus Finance Was Exploited Again, Lost Over $13 Million
Deus Finance Was Exploited Again, Lost Over $13 Million
Deus Finance was hacked for $13.4 million earlier today, according to blockchain security firm PeckShield. This comes only a few months after the protocol was hacked in the same way.
The hacker used a flashloan-assisted price oracle manipulation that “reads from the StableV1 AMM – USDC/DEI pair,” which is a well-worn path.
The attacker was successful in manipulating the price of collateral DEI, which he then utilized to borrow and drain the pool. In total, the anonymous hacker was able to take $13.4 million in digital assets. PeckShield, on the other hand, warned that the protocol’s losses may be far larger.
The project team has halted DEI lending on the platform after becoming aware of the hack. The development team is working to solve the problem, and further information will be published soon.
To launch the hack, the attacker borrowed roughly 800 ETH, which he withdrew from Tornado Cash and tunneled to Fantom using Multichain. The hacker’s current address indicates that they have exchanged the stolen cash for ETH and returned it to Tornado Cash.
This wasn’t Deus Finance’s first security breach. The protocol was exploited on March 15, leading to the gain of ~$3M for the hacker (The protocol loss may be larger), including 200,000 DAI and 1101.8 ETH.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
Join CoinCu Telegram to keep track of news: https://t.me/coincunews
Follow CoinCu Youtube Channel | Follow CoinCu Facebook page
Hazel
CoinCu News
Author
Scam Alert
Deus Finance Was Exploited Again, Lost Over $13 Million
Deus Finance Was Exploited Again, Lost Over $13 Million
Deus Finance was hacked for $13.4 million earlier today, according to blockchain security firm PeckShield. This comes only a few months after the protocol was hacked in the same way.
The hacker used a flashloan-assisted price oracle manipulation that “reads from the StableV1 AMM – USDC/DEI pair,” which is a well-worn path.
The attacker was successful in manipulating the price of collateral DEI, which he then utilized to borrow and drain the pool. In total, the anonymous hacker was able to take $13.4 million in digital assets. PeckShield, on the other hand, warned that the protocol’s losses may be far larger.
The project team has halted DEI lending on the platform after becoming aware of the hack. The development team is working to solve the problem, and further information will be published soon.
To launch the hack, the attacker borrowed roughly 800 ETH, which he withdrew from Tornado Cash and tunneled to Fantom using Multichain. The hacker’s current address indicates that they have exchanged the stolen cash for ETH and returned it to Tornado Cash.
This wasn’t Deus Finance’s first security breach. The protocol was exploited on March 15, leading to the gain of ~$3M for the hacker (The protocol loss may be larger), including 200,000 DAI and 1101.8 ETH.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
Join CoinCu Telegram to keep track of news: https://t.me/coincunews
Follow CoinCu Youtube Channel | Follow CoinCu Facebook page
Hazel
CoinCu News
Other Posts
Related Posts
Latest
NYC Taxi Driver Struck Gold with Ethereum—What’s His Next Target? BlockDAG, the Presale Giant!
Press Release
NYC Taxi Driver Struck Gold with Ethereum—What’s His Next Target? BlockDAG, the Presale Giant!
5 Reasons Rexas Finance (RXS) is a No-brainer Pick for Investors Today
