A DeFi hacker steals $13.4 million from DEUS Finance

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User fund is safe

DEUS Finance is a company that specializes in financial services Suffers from a Flash Loan Scam

DEUS Finance is a company that specializes in financial services. DAO is the most recent DeFi protocol to be hacked.

A flash loan attack was aimed early Thursday morning against the multi-chain DeFi project, which operates on Ethereum, Fantom, BNB Chain, and several other Layer 1 networks.

According to on-chain data, an attacker used a flash loan to target a DEUS liquidity pool on Fantom. Flash loans, pioneered by the early Ethereum DeFi project Aave, allow DeFi users to borrow an infinite amount of money without putting up any collateral as long as they repay the loan in the same transaction. While flash loans are an example of DeFi innovation, they have sparked debate because of their major part in several multi-million dollar breaches.

DEUS Finance lại bị hack, thiệt hại ước tính 13,4 triệu USD

This assault follows a pattern that has been repeated in several previous occurrences. According to a Twitter post, the hacker utilized the loan to influence a pricing oracle to fraudulently increase the price of DEUS’ DEI stablecoin. They then utilized the DEI as security to borrow additional money and perform a USDC deal. After paying off the flash loan, they had roughly $13.4 million left over.

Following the flash loan assault, the hacker transferred the money from Fantom to Ethereum and siphoned them to a clean address using Tornado Cash, an Ethereum-based privacy-preserving technology prevalent in DeFi attacks.

DEUS has recently stated that customer money is secure and that DEI financing has been temporarily halted. It also said that it would provide further information later. It will have to explain itself after becoming the victim of a $3 million flash loan scam barely a month ago.

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