Hacker Steals $13 Million In DEUS Finance Exploit, Its 2nd Attack In Last 60 Days

    Thursday’s multimillion-dollar decentralized finance breach resulted within the theft of round $13.5 million. DEUS Finance DAO was impacted this time.

    Deus Finance, a DeFi platform, acknowledged reviews that an attacker stole thousands and thousands of {dollars} by way of an illegal means.

    CertiK and PeckShield, two blockchain safety startups, reported that Deus Finance was the sufferer of a “flash loan attack.”

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    Flash loans, which had been pioneered by the early Ethereum DeFi mission Aave, permit DeFi customers to borrow a limiteless quantity of funds with out giving collateral so long as the mortgage is repaid in the identical transaction.

    DEUS Hack Could Be Bigger

    According to PeckShield, the attacker stole round $13.4 million in cryptocurrencies, however the platform’s true losses could also be greater. CertiK estimated the loss to be 5,446 ETH, or roughly $15.7 million.

    Blockchain information present the attacker borrowed $143 million in a flash mortgage and bought 9.5 million DEI, Deus Finance’s stablecoin pegged to the US greenback.

    Additionally, the info indicated that the hacker moved the funds to Tornado Cash, a cryptocurrency mixer that permits customers to hide the supply of funds.

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    This acquisition elevated the worth of DEI, enabling the attacker to repay the flash mortgage and earn virtually $13 million.

    According to the announcement from PeckShield:


    “The hack is made possible by the modification of the price oracle that reads from the StableVW AMM – USDC/DEI pair via flash loans… The pool is subsequently drained using the inflated price of collateral DEI.”

    The Money Is Safe, DEUS Says

    Deus acknowledged that it has halted lending of the exploited DEI tokens in response to the state of affairs. I t additionally acknowledged that “user funds are secure” and that further data can be supplied later.

    “Please be assured that all user funds are secure and that no users’ accounts have been liquidated. The developers are presently examining the entire nature of the incident and will provide additional facts soon,” the mission’s creators mentioned on Telegram.

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    This was not Deus Finance’s first safety breach. Last month, the protocol additionally misplaced $3 million to a flash mortgage hack. The occasion fueled dialogue about flash loans and the potential menace they pose to DeFi methods.

    DEUS costs have fallen 16.5 p.c within the final 24 hours, in accordance with CoinGecko information. The majority of those losses occurred following the general public disclosure of the exploit. By the time of publication, Deus had not responded to a request for remark.

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