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$3 Million in DAI and Ethereum Stolen from Deus Finance

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$3 Million in DAI and Ethereum Stolen from Deus Finance

In a latest series of DeFi hack, an attacker gained at least $3 million in cryptocurrency by exploiting Deus Finance, including 200,000 DAI and 1101.8 ETH, blockchain security and analytics company PeckShield reported Tuesday. The blockchain security company explained that the hack was due to a flash-loan manipulation of a price oracle. “The hack is made possible due to the flashloan-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!,” PeckShield wrote in a twitter thread. 1/ @deusdao Deus Finance was exploited in https://t.co/bfYCQcz5rZ, leading to the gain of ~$3M for the hacker (The protocol loss may be larger), including 200,000 DAI and 1101.8 ETH — PeckShield Inc. (@peckshield) March 15, 2022 PeckShield also informed that the hackers funneled the funds to the cryptocurrency mixer TornadoCash through Multichain. Shortly after, the team behind Deus Finance too confirmed about the exploit on Twitter explaining that the DEI lending contract has now 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 Finance DAO (@DeusDao) March 15, 2022 DEUS Finance is a marketplace of DeFi services that allows customers to build synthetic stocks, trading platforms, and other instruments. The hacking incident comes barely a day after the native cryptocurrency DEUS reached an all-time high (ATH) of $444.79, according to CoinGecko. At the moment, DEUS is currently trading at $318, a 23% price decline from the past 24 hours.

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