{"id":20962,"date":"2022-03-15T22:28:28","date_gmt":"2022-03-15T21:28:28","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=20962"},"modified":"2022-03-15T22:28:33","modified_gmt":"2022-03-15T21:28:33","slug":"deus-finance-loses-3m-worth-of-dai-and-ether-to-hackers","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/deus-finance-loses-3m-worth-of-dai-and-ether-to-hackers\/","title":{"rendered":"Deus Finance loses $3M worth of DAI and Ether to hackers"},"content":{"rendered":"\n
Deus Finance, a multi-token decentralized finance (DeFi) marketplace, has been the latest victim of an exploit<\/a> that has resulted in over $3 million in losses in the Dai (DAI) and Ether (ETH) cryptocurrency markets.<\/h5>\n\n\n\n
\"Deus<\/figure><\/div>\n\n\n\n

PeckShield, a DeFi analytic firm\r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a>, came to Twitter to explain the situation and how the funds were used. The attackers were able to exploit and manipulate a price oracle for flash loans, causing users' funds to become insolvent.<\/p>\n\n\n\n

\n

1\/ @deusdao<\/use><\/svg><\/span><\/a> Deus Finance was exploited in https:\/\/t.co\/bfYCQcz5rZ<\/use><\/svg><\/span><\/a>, leading to the gain of ~$3M for the hacker (The protocol loss may be larger), including 200,000 DAI and 1101.8 ETH<\/p>— PeckShield Inc. (@peckshield) March 15, 2022<\/use><\/svg><\/span><\/a><\/blockquote>

The price of the pair of StableV1 AMM \u2013 USDC\/DEI, which the protocol utilized to create a price oracle for its flash loans, was changed by the hackers.<\/p>\n\n\n\n

\"\"
Example of Price Manipulation Source: PeckShield<\/figcaption><\/figure>\n\n\n\n

Hackers took 200,000 DAI and 1101.8 ETH, according to PeckShield, and the total amount of stolen cash could be higher than the initial estimations of $3 million.<\/p>\n\n\n\n

The stolen monies were then channelled through the Multichain Protocol<\/a> by the hacker behind the attack, who used the currency mixer tool Tornado cash (previously known as AnySwap).<\/p>\n\n\n\n

\"\"
Stolen Funds Washed through TornadoCash Source: EtherScan<\/figcaption><\/figure>\n\n\n\n

Deus Finance admitted the flaw in its lending protocol<\/a> and stated that its DEI loan contract had been terminated. The DeFi protocol also claimed that the exploit had no effect on DEUS or DEI.<\/p>\n\n\n\n

\n

We are aware of the recent exploit reports regarding the $DEI<\/use><\/svg><\/span><\/a> lending contract.

Contract has been closed, both $DEUS<\/use><\/svg><\/span><\/a> & $DEI<\/use><\/svg><\/span><\/a> are unaffected. Devs are working on a summary of the events, all information will be communicated once we have assessed the full situation.<\/p>— DEUS (@DeusDao) March 15, 2022<\/use><\/svg><\/span><\/a><\/blockquote>

About Deus Finance<\/h2>\n\n\n\n

Deus Finance offers DeFi infrastructure to assist others in the creation of financial instruments such as synthetic stock trading platforms,<\/a> options, and futures trading.<\/p>\n\n\n\n

Deus Protocol's CEO, Lafayette Tabor, used Twitter to notify the community about the repayment schemes. He stated that the developers would draft a new contract that would allow affected users to refund their loans. He elaborated:<\/p>\n\n\n\n

\u201cWe will create a contract you will be able to repay your DEBT on it and get your sAMM that were liquidated, we will also implement a feature that lets you swap DEI against a small MUON allocation. (paying from my team allocation).\u201d<\/p><\/blockquote>\n","protected":false},"excerpt":{"rendered":"

Deus Finance, a multi-token decentralized finance (DeFi) marketplace, has been the latest victim of an exploit that has resulted in over $3 million in losses in the Dai (DAI) and Ether (ETH) cryptocurrency markets. PeckShield, a DeFi analytic firm , came to Twitter to explain the situation and how the funds were used. The attackers […]<\/p>\n","protected":false},"author":12,"featured_media":20968,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[73,21],"tags":[8138,6098,8137,6115],"class_list":["post-20962","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-defi-news","category-news","tag-ether-3","tag-dai-2","tag-deus-finance","tag-hackers-2"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2022\/03\/image-104.png","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/20962","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/12"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=20962"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/20962\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/20968"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=20962"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=20962"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=20962"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}