Hacker Siphons $3 Million Worth of DAI and ETH From Defi Protocol Deus Finance

Another decentralized concern (defi) protocol was breached this week aft it was discovered that a hacker exploited the bilateral over-the-counter (OTC) derivatives level Deus Finance. According to a station mortem Twitter thread published by the information steadfast Peckshield, Deus mislaid astir $3 cardinal worthy of ethereum and the stablecoin DAI.

Attacker Steals $3 Million From Defi Protocol Deus Finance via Price Oracle Exploit

The crypto assemblage has been conversing astir different defi hack aft a fewer reports noted the defi exertion Deus Finance was siphoned for $3 cardinal successful crypto assets. The defi analytics and information steadfast Peckshield explained however the incidental happened connected Twitter.

“Deus Finance was exploited — starring to the summation of ~$3M for the hacker (The protocol nonaccomplishment whitethorn beryllium larger), including 200,000 DAI and 1101.8 ETH,” Peckshield said. The defi analytics institution further added:

The hack is made imaginable owed to the flashloan-assisted manipulation of terms oracle that reads the terms from the brace of StableV1 AMM – USDC/DEI, truthful that adjacent mean users, unfortunately, go insolvent.

Native Token DEUS Slides More Than 6%, Deus Finance Closes Contract, Protocol’s TVL Slides 20% Since Friday

The onslaught against Deus Finance follows a bid of defi breaches successful 2022, arsenic defi exploits proceed to ravage the community’s trust. During the archetypal week of February, it was discovered that the cross-chain span Wormhole suffered a $320 cardinal hack.

However, Wormhole’s genitor institution replenished the stolen funds due to the fact that the institution “believes successful a multichain aboriginal and that [Wormhole] is indispensable infrastructure.” During the archetypal week of March, an attacker breached Arbitrum’s Treasure DAO for implicit 100 NFTs by leveraging a marketplace exploit. As acold arsenic the Deus Finance hack is concerned, the squad down the task has addressed the assemblage astir the incident.

“We are alert of the caller exploit reports regarding the $DEI lending contract,” the authoritative Deus Twitter relationship stated. “Contract has been closed, some $DEUS & $DEI are unaffected. Devs are moving connected a summary of the events, each accusation volition beryllium communicated erstwhile we person assessed the afloat situation.”

Currently, the stablecoin dei Token (DEI) has managed to enactment unchangeable but the protocol’s autochthonal token DEUS mislaid 6.4% against the U.S. dollar successful the past 24 hours. Despite the loss, the comparatively caller defi token DEUS has gained 738% successful the past 30 days.

On March 12, statistic amusement that the full worth locked (TVL) successful Deus Finance was $21.71 million, but that’s been sinking since past Friday. The existent TVL successful Deus Finance pursuing the hack is $17.28 cardinal which is 20.40% little than Friday’s TVL stats.

What bash you deliberation astir the caller Deus Finance hack? Let america cognize what you deliberation astir this taxable successful the comments conception below.

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