Blockchain security firm, Peckshield has announced an attack on Deus Finance, a decentralized finance (DeFi) protocol and over-the-counter (OTC) derivative platform.
Publishing the report in a string of tweets, Peckshield said the hacker who exploited the (OTC) derivatives platform stole $3 million worth of DAI stablecoins and ETH.
According to the security firm:
“Deus Finance was exploited — leading to the gain of ~$3M for the hacker (The protocol loss may be larger), including 200,000 DAI and 1101.8 ETH. The hack is made possible due to the flashloan-assisted manipulation of price oracle that reads the price from the pair of StableV1 AMM — USDC/DEI, so that even normal users, unfortunately, become insolvent.”
This attack adds Deus to the list of DeFi protocols that have experienced security breaches since the beginning of the year. In February, Wormhole a cross-chain bridge suffered a breach where $320 million was stolen.
The attack on the cross-chain that links the Ethereum and Solana Networks is the second biggest in the history of DeFi after the Poly Network heist. The $600 million Poly Network hack remains the highest on Solana till date.
