Deus Finance is a project that is on a mission to make enterprise-grade blockchain derivatives available to the public. The platform was targeted by hackers on April 28th resulting in a massive loss of up to $13.4 million worth of Ethereum (ETH). Although the financial instrument and protocols designed on the DEUS infrastructure use DEI as collateral, the implementation mistake in the token contract's code allowed someone to issue unlimited DEI tokens and take full advantage of the situation.

The hack was made possible by using a flash loan to manipulate the price oracle that was reading data from the StableVW AMM – USDC/DEI pair. 800 ETH was removed from Tornado Cash, transferred to Fantom and MultiChain, and eventually converted to Ethereum and deposited into the hacker's account.

Since the news broke, the DUES token has dropped more than 33%. Furthermore, the DEI stablecoin's token price dropped more than 30%. In order to deal with the consequences and restore everything back to normal, the DEUS team is now calling for help from their community.

It is important to highlight that the team of Deus Finance is focused on nullifying the attacker’s advantage and restoring the DEI balance. All white hackers that were able to rescue funds during the DEI exploit will have 0x7f5ae1dc8d2b5d599409c57978d21cf596d37996 in the DEUS-owned multisig on Arbitrum - and have to get in touch with the team.

Even though several news regarding the incident have worried the market, the team of DEUS is working on countermeasures, aiming to fill the gaps that led to the exploitation of the token contract. Experts in the blockchain industry point out that cyber-attacks will likely increase, so it is important for developers to know what needs to be done in order to avoid functional or security flaws. It is also vital to leave room for open communication between all parties, in order to make sure that all cyber-related risks are addressed and handled properly.



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