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
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.
Join CoinCu Telegram to keep track of news: https://t.me/coincunews
Follow CoinCu Youtube Channel | Follow CoinCu Facebook page
Annie
CoinCu News
Bitcoin Spot ETF Outflows hit $541M on November 4, the second-highest single-day outflow in history.…
The hype around PropiChain’s token presale is due to its innovative integration of NFTs and…
UK pension fund Cartwright advised the country's first defined benefit pension fund to allocate 3%…
a16z and Coinbase have pledged substantial funds to crypto PAC Fairshake, aiming to support crypto-friendly…
Bitcoin (BTC), Ethereum (ETH), and Solana (SOL) dominate the crypto market, but experts warn that…
Discover the future as the Dogecoin price aims for a $0.7 comeback and discover why…
This website uses cookies.