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Deus Finance Breached, Hackers Steal $3 Million in Crypto

Deus Finance Breached, Hackers Steal $3 Million in Crypto

The decentralized finance platform had suffered from an exploit, through which hackers managed to steal a large sum of crypto.

The exploit on Deus Finance was Initially reported by the blockchain security platform PeckShield which announced that almost $3M worth of digital assets (1101.9 ETH and 200K of the platform’s native token DAI) were stolen through a "flashloan-assisted manipulation of price oracle."

The hack was initiated by withdrawing funds from a cryptocurrency mixer Tornado Cash, after which the funds were used to perform the exploit by transferring them through Multichain for additional anonymity. After the hack was complete, the hackers reversed the whole process by moving the gained funds through Multichain, and laundered them through Tornado Cash.

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What is Uniswap? (UNI Token Explained With Animation)

What is Uniswap? (UNI Token Explained With Animation) What is Uniswap? (UNI Token Explained With Animation)

Just an hour later after the alert posted by PeckShield, Deus Finance responded to the recent exploit and closed all withdrawal and deposit operations.

The Project Lead of Deus Finance Lafayette Tabor addressed the situation, assuring customers that they will be reimbursed from his team’s allocation, letting users swap DEI against MUON.

While the crypto industry has been recently quiet in terms of malicious activity, one of the largest sums was extracted by hackers just last month. The interoperability protocol Wormhole, built on the Solana Network, suffered an exploit, resulting in losses worth approximately $321 million.

Aaron S., Editor-In-Chief
Having completed a Master’s degree on Economics, Politics & Culture for the East Asia region, Aaron has written scientific papers with a comparative analysis of the differences between US’ Western and Japan’s Collective forms of capitalism, 1945-2020.
With close to a decade of experience in the FinTech industry, Aaron understands all of the biggest issues and struggles that crypto enthusiasts face. He’s a passionate analyst who is concerned with data-driven and fact-based content, as well as that which speaks to both Web3 natives and industry newcomers.
Aaron is the go-to person for everything and anything related to digital currencies. With a huge passion for blockchain & Web3 education, Aaron strives to transform the space as we know it, and make it more approachable to complete beginners.
Aaron has been quoted by multiple established outlets, and is a published author himself. Even during his free time, he enjoys researching the market trends, and looking for the next supernova.



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