Deus Finance Got Hacked Out Of $3M In DAI And ETH

Deus Finance got hacked out of $3 million in DAI and ETH with the hacks in the DEFI space returning after a short hiatus so let’s read more today in our latest cryptocurrency news.

Deus finance was exploited according to Peckshield once the attacker swiped around $3 million in DAI and eTH and the security company explained that the hack was due to a flash-loan manipulation of the price oracle. PeckShield outlined the latest hack in the DEFI space and this time it was against Deus Finance which is a multi-token DeFi marketplace that allowed customers to create synthetic stocks, trading platforms, and other instruments.

3/ To illustrate, we use the hack tx and show the key steps below pic.twitter.com/muDTgyquQ0

— PeckShield Inc. (@peckshield) March 15, 2022

The security resource attributed the attack to the flash loan-assisted manipulation of the price oracle which read the price from the pair STABLEV1 AMM so that the users are becoming insolvent. The company said the hacker stole 200,000 DAO and 1101.9 ETH or $3 million worth of crypto but it warned that the losses for the platform can be even worse. PeckShield informed that the perpetrator managed to funnel the funds to the crypto mixer TornadoCash via Multichain.

The team behind Deus Finance confirmed the reprots and they explained that the DEI lending contracts were closed and both the DEUS and DEI are unaffected with the team promising to provide updates as it goes on with the investigation.

Also, The NFT marketplace on Arbitrum dubbed TreasureDAO was exploited and hackers stole over 100 NFTs. The stolen NFTs were stolen in the recent exploit that was conducted via a series of transactions and the attackers were able to exploit a bug in the protocol which enabled them to mint NFTs for free. The platform then urged the users to delist their NFTs from the marketplace.

In another huge blow to the NFT industry, the hackers exploited Arbitrum with the project falling victim to the breach of TreasureDAO as the biggest NFT marketplaces on the Layer 2 protocol. According to the data by blockchain security company Peckshield, about 100 NFTs were stolen and the hack happened due to a bug in ERC721 and eRC1155 that miscalculated the prices. The full extent of the damage is unclear but a few social media posts suggest that one of the addresses used for hacking drained 17 smol brains which are the popular NFT traded on Arbitrum.