DEUS Finance DAO hacked for $13.4 million
A successful attack on the De-Fi project DEUS Finance on Thursday enriched the hacker by $13.4 million.
The hack was carried out with an instant loan operation targeting a liquidity pool on the Fantom blockchain. This operation allows you to borrow an unlimited amount without collateral. The main condition is to return the loan in the same transaction.
According to PeckShield experts, this is the main hack mechanism in the DeFi sector. In this case, the hacker used a price manipulation loan to increase the value of the DEUS DEI stablecoin. Then I used it for collateral and made a deal with USDC. After paying off the quick loan, the hacker had $13.4 million left.
After the hack, the scammer sent the proceeds from Fantom to Ethereum, and then sent it to the Tornado Cash cryptomixer to confuse the tracks. Recall that we previously wrote that Tornado Cash stopped servicing sanctioned addresses. However, alas, in this case, the exchange has already been made, and it will be difficult to find funds.
DEUS Finance is a multi-chain platform that supports Ethereum, Fantom, BSC and many other first-tier blockchains. The developers have now stated that DEI lending has been suspended and the funds are safe.
The dev team is working on the DEI situation.— DEUS Finance DAO (@DeusDao) April 28, 2022
1. User funds are safe. No users were liquidated.
2. DEI lending has been temporarily halted.
3. $DEI peg has been restored.
More details to follow.
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