Cryptocurrency increasing in the market decentralized finance (DeFi) A new one has been added to their hacking. Over-the-counter cryptocurrency derivatives platform Deus Finance (DEUS) became a victim of hackers.
According to the post-incident security company Peckshield statement, Deus Finance has a total of 3 million dollars. Ethereum and stablecoin DAI suffered the loss.
We are aware of the recent exploit reports regarding the $DEI lending contract.
Contract has been closed, both $DEUS & $DEI are unaffected. Devs are working on a summary of the events, all information will be communicated once we have assessed the full situation.
— DEUS Finance DAO (@DeusDao) March 15, 2022
DeFi Platform Lost $3 Million To Deus Finance Hackers
The cryptocurrency community is talking about a new hacking event targeting decentralized finance platforms. According to reports, $3 million worth of cryptocurrency was stolen from the Deus Finance app by hackers. DeFi analytics and security company Peckshield shared how the event unfolded on Twitter:
“Deus Finance fell victim to the hacker attack. Hackers stole $3 million worth of cryptocurrency from the platform, but the platform’s loss could be more than that. In total, hackers transferred 200,000 DAI and 1101.8 Ethereum to their wallets.
The hack occurred when oracle was manipulated, which read the price information of the StableV1 AMM – USDC/DEI trading pair with the help of flash credit. Therefore, even normal users could not pay their debts.”
TVL Value of the Platform Lost After the Attacks
After the events, the platform itself altcoin DEUS, which was the first, lost 6% of its value and the total locked value (TVL) on the platform decreased by 20%.
This attack on Deus Finance found its place among the hacking events in the DeFi world in 2022. Due to hacking events, there is a decrease in trust in these platforms in the crypto money market. At the beginning of February, Wormhole was the victim of a $230 million attack.