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Jafrin Ahmed
Mar 15, 2022
by Jafrin Ahmed

$3 Million in DAI and Ethereum Stolen from Deus Finance

Ethereum
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.

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.

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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Deus Finance Hacked DEUS
$3 Million in DAI and Ethereum Stolen from Deus Finance
Jafrin Ahmed
Jafrin is a cryptocurrency journalist/researcher fascinated by the world of decentralization. She is hopeful towards blockchain’s innovation and its potential to reshape the world for good. Currently, she is bringing out the best of cryptosphere via covering the latest ins and outs of the blockchain space.