According to PeckShield data, Deus Finance was hacked, with the perpetrator stealing about $3 million in DAI and Ethereum (ETH). The intrusion was caused by a flash-loan manipulation of a price oracle, according to the blockchain security firm.

On March 15, PeckShield took to Twitter to discuss the latest attack in the decentralized finance industry. It was this time against Deus Finance, a multi-token DeFi marketplace where users may create synthetic stocks, trading platforms, and other instruments.

The attack was blamed on a “flash-loan-assisted manipulation of price oracle that reads the price from the pair of StableV1 AMM – USDC/DEI, so that even average users, sadly, become insolvent!” according to the security resource.

According to the business, the hacker took 200,000 DAO and 1101.8 ETH, totaling $3 million in digital assets

It warned that Deus Finance’s losses could be substantially greater

PeckShield further revealed that the attacker used Multichain to send the cash to TornadoCash, a cryptocurrency mixer (previously Anyswap). “flash-loan-assisted price oracle manipulation that reads the price from the pair of StableV1 AMM – USDC/DEI, causing even ordinary users to become insolvent!”

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.

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.

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Championing positive change through finance, I've dedicated over eight years to sustainability and environmental journalism. My passion lies in uncovering companies that make a real difference in the world and guiding investors towards them. My expertise lies in navigating the world of sustainable investing, analyzing ESG (Environmental, Social, and Governance) criteria, and exploring the exciting field of impact investing. "Invest in a better future," I often say. That's the driving force behind my work at Coincu – to empower readers with knowledge and insights to make investment decisions that create a positive impact.

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News, DeFi

The Latest Deus Finance Hack Resulted In The Theft Of $3 Million In DAI And ETH

According to PeckShield data, Deus Finance was hacked, with the perpetrator stealing about $3 million in DAI and Ethereum (ETH). The intrusion was caused by a flash-loan manipulation of a price oracle, according to the blockchain security firm.

On March 15, PeckShield took to Twitter to discuss the latest attack in the decentralized finance industry. It was this time against Deus Finance, a multi-token DeFi marketplace where users may create synthetic stocks, trading platforms, and other instruments.

The attack was blamed on a “flash-loan-assisted manipulation of price oracle that reads the price from the pair of StableV1 AMM – USDC/DEI, so that even average users, sadly, become insolvent!” according to the security resource.

According to the business, the hacker took 200,000 DAO and 1101.8 ETH, totaling $3 million in digital assets

It warned that Deus Finance’s losses could be substantially greater

PeckShield further revealed that the attacker used Multichain to send the cash to TornadoCash, a cryptocurrency mixer (previously Anyswap). “flash-loan-assisted price oracle manipulation that reads the price from the pair of StableV1 AMM – USDC/DEI, causing even ordinary users to become insolvent!”

3/ To illustrate, we use the hack tx and show the key steps below pic.twitter.com/muDTgyquQ0

— 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.

We are aware of the recent exploit reports regarding the $DEI lending contract.

Contract has been closed, both $DEUS & $DEI are unaffected. Devs are working on a summary of the events, all information will be communicated once we have assessed the full situation.

— DEUS (@DeusDao) March 15, 2022

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

Annie

CoinCu News

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