{"id":78427,"date":"2023-05-08T11:39:54","date_gmt":"2023-05-08T08:39:54","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=78427"},"modified":"2025-09-11T05:02:20","modified_gmt":"2025-09-11T02:02:20","slug":"deus-finance-defi-protocol-hacked-for-6-million","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/deus-finance-defi-protocol-hacked-for-6-million\/","title":{"rendered":"Deus Finance DeFi protocol hacked for $6 million"},"content":{"rendered":"<p>The hacker drained $6 million from the Deus Finance DeFi protocol through a vulnerability in the <a href=\"https:\/\/u1f987.com\/en\/news\/algorithmic-stablecoins-how-alternatives-to-usdt-and-usdc-are-evolving\">algorithmic stablecoin<\/a> DEI.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Hi <a href=\"https:\/\/twitter.com\/DeusDao?ref_src=twsrc%5Etfw\">@DeusDao<\/a>: it appears to be a pubic burn vulnerability with loss > $1.3M alone at BSC. The ARB\/ETH deployments are also affected.<\/p>\n<p>The BSC hack was successfully frontrun by a bot: <a href=\"https:\/\/t.co\/hXskQOIfwV\">https:\/\/t.co\/hXskQOIfwV<\/a><\/p>\n<p>The DEI token @ BSC was upgraded on Apr-10-2023 <a href=\"https:\/\/t.co\/QJHwnZaXMk\">https:\/\/t.co\/QJHwnZaXMk<\/a> <a href=\"https:\/\/t.co\/C51CnVsg1B\">pic.twitter.com\/C51CnVsg1B<\/a><\/p>\n<p>\u2014 PeckShield Inc. (@peckshield) <a href=\"https:\/\/twitter.com\/peckshield\/status\/1654626667787321344?ref_src=twsrc%5Etfw\">May 5, 2023<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>According to PeckShield analysts, on May 5 the attacker exploited a vulnerability in the BNB Smart Chain (BSC) networks and <a href=\"https:\/\/u1f987.com\/en\/news\/what-is-arbitrum\">Arbitrum<\/a>.<\/p>\n<p>The hacker launched a bot on BSC, which led to losses of more than $1.3 million. Afterwards he attacked Arbitrum \u2014 during the ARB\/ETH deployment the hacker withdrew more than $5 million.<\/p>\n<p>Protocol representatives confirmed the incident and said that smart contracts were paused. The project team also burned DEI tokens on affiliated chains to prevent further damage.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Update on DEI tokens security breach<\/p>\n<p>Yesterday:<br \/>In response to the security breach, all contracts were paused, and DEI tokens on chains were burnt to prevent further damage<\/p>\n<p>\u2014 DEUS (@DeusDao) <a href=\"https:\/\/twitter.com\/DeusDao\/status\/1654808611263246336?ref_src=twsrc%5Etfw\">May 6, 2023<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Deus Finance took balance snapshots before the burn, to offer users a compensation plan once operations resume.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u00abUsers are advised to remain patient and not interact with the current DEI contracts until a concrete repayment plan is available,\u00bb said project representatives.<\/p>\n<\/blockquote>\n<p>The DEI stablecoin is used as collateral for external tools built on the Fantom protocol. In the wake of the hack, the asset&#8217;s price fell more than 30% \u2014 from $0.30 to $0.20. According to CoinMarketCap, as of writing DEI had somewhat recovered and was trading at about $0.26.<\/p>\n<p>On May 15, 2022, DEI lost its peg to the US dollar amid the <a href=\"https:\/\/u1f987.com\/en\/news\/luna-price-plunges-86-as-ust-stablecoin-slides\">depegging of the UST stablecoin and the collapse of the Terra ecosystem<\/a>.<\/p>\n<p>In March the attacker <a href=\"https:\/\/u1f987.com\/en\/news\/hacker-exploits-deus-finance-dao-nets-about-3-million\">attacked the Deus Finance DAO<\/a> using <a href=\"https:\/\/u1f987.com\/en\/news\/what-are-flash-loans\">flash loans<\/a>. His proceeds amounted to about $3 million.<\/p>\n<p>Subsequently the project <a href=\"https:\/\/u1f987.com\/en\/news\/hacker-drains-more-than-13m-from-defi-protocol-deus-finance-dao\">was attacked again<\/a>\u2014 the hacker withdrew assets from the smart contracts worth approximately $13.4 million.<\/p>\n<p>According to a CertiK report, in April 2023 crypto projects <a href=\"https:\/\/u1f987.com\/en\/news\/losses-from-crypto-hacks-and-scams-in-april-exceeded-103-7-million\">lost $103.7 million<\/a> due to exploits, hacks and exit scams. Year-to-date losses total $429.7 million.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The hacker drained $6 million from the Deus Finance DeFi protocol through a vulnerability in the algorithmic stablecoin DEI.<\/p>\n","protected":false},"author":1,"featured_media":78428,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[44,1093,807],"class_list":["post-78427","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-cybercrime","tag-defi","tag-stablecoins"],"aioseo_notices":[],"amp_enabled":true,"views":"24","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/78427","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=78427"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/78427\/revisions"}],"predecessor-version":[{"id":78429,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/78427\/revisions\/78429"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/78428"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=78427"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=78427"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=78427"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}