Deus Finance was exploited, according to data from PeckShield, with the attacker swiping around $3 million in DAI and Ethereum (ETH). The blockchain security company explained that the hack was due to a flash-loan manipulation of a price oracle.
PeckShield took it to Twitter on March 15 to outline the latest hack in the decentralized finance industry. This time, it was against Deus Finance – a multi-token DeFi marketplace allowing customers to build synthetic stocks, trading platforms, and other instruments.
The security resource attributed the attack to a “flash-loan-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!”
The firm said the hacker stole 200,000 DAO and 1101.8 ETH – or around $3 million worth of digital assets. However, it warned that the losses for Deus Finance could be even worse.
PeckShield also informed that the perpetrator funneled the funds to the cryptocurrency mixer TornadoCash through Multichain (previously Anyswap).
4) The initial funds to launch the hack are withdrawn from @TornadoCash and tunneled to Fantom via @MultichainOrg. The result gains are tunneled via @MultichainOrg and funds are now washed via @TornadoCash. pic.twitter.com/UlJgiJMsa6
— 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.
Binance Free $100 (Exclusive): Use this link to register and receive $100 free and 10% off fees on Binance Futures first month (terms).
PrimeXBT Special Offer: Use this link to register & enter POTATO50 code to receive up to $7,000 on your deposits.
Be the first to comment