Another decentralized finance (defi) protocol was breached this week after it was discovered that a hacker exploited the bilateral over-the-counter (OTC) derivatives platform Deus Finance. According to a post mortem Twitter thread published by the security firm Peckshield, Deus lost around $3 million worth of ethereum and the stablecoin DAI.
Attacker Steals $3 Million From Defi Protocol Deus Finance via Price Oracle Exploit
The crypto community has been conversing about another defi hack after a few reports noted the defi application Deus Finance was siphoned for $3 million in crypto assets. The defi analytics and security firm Peckshield explained how the incident happened on Twitter. “Deus Finance was exploited — leading to the gain of ~$3M for the hacker (The protocol loss may be larger), including 200,000 DAI and 1101.8 ETH,” Peckshield said. The defi analytics company further added: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.
+ There are no comments
Add yours