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DEUS Finance Suffers Major Hack, Resulting in Loss of $6M Worth of DEI Stablecoin

DEI, a stablecoin of the DEUS decentralized finance (DeFi) protocol, had more than $6 million taken from it in a hack as of May 6. More than $5 million was lost on Arbitrum, an Ethereum layer-2 solution, and $1.3 million on BNB Smart Chain (BSC).

DEI losses over $6M in a hack

A report from PeckShield, a blockchain security company, says that DEUS Finance lost more than $6 million in a hack that targeted two networks, BNB Chain and Arbitrum.

DEUS confirmed that they had been hacked and said they had lost $5 million from the Arbitrum network and $1.3 million from the BSC.

PeckShield said that a bot started the hack and that the bot also broke into the ARB and ETH deployments.

The white-hat hackers found that DEI’s smart contract had a flaw that let anyone create a new DEI without any oversight. Hackers used this hole to try to steal DEI from the networks that were affected. 

The DEUS team was happy with how quickly the white hackers responded and stopped the affected contracts, cutting costs. Since then, these papers have been thrown away.


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