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A hacker steals USD 3 million in DAI and ETH from DeFi Protocol Deus Finance

The crypto community has been discussing another DeFi hack after many reports stated that the DeFi application Deus Finance was stolen for $3 million in crypto assets. Peckshield, a defi analytics and security service, addressed the situation on Twitter.

“Deus Finance was attacked, resulting in a $3 million gain for the hacker (the protocol loss may be more), including 200,000 DAI and 1101.8 ETH,” Peckshield said.

The attack on Deus Finance comes after a string of DeFi breaches in 2022, as DeFi vulnerabilities continue to wreak havoc on the community’s faith. During the first week of February, it was found that the $320 million cross-chain bridge, Wormhole, had been hacked.

Wormhole’s parent business, on the other hand, restored the stolen cash because it “believes in a multichain future and that [Wormhole] is critical infrastructure.” Using a marketplace hack, an attacker penetrated Arbitrum’s Treasure DAO for over 100 NFTs during the first week of March. The project’s team has talked to the community about the Deus Finance hack.

The stablecoin dei Token (DEI) is now stable, but the protocol’s native token DEUS has lost 6.4 percent versus the US dollar in the previous 24 hours. Despite the setback, DEUS, a new defi token, has increased by 738 percent in the last 30 days.

Statistics reveal that the total value locked (TVL) in Deus Finance was $21.71 million on March 12, although that figure has been declining since last Friday. Following the incident, Deus Finance’s current TVL is $17.28 million, which is 20.40 percent lower than Friday’s TVL figures.

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Jeewan Singh is CryptoShrypto’s content writer and a seasoned writer with over two years of experience in writing about Indian Securities Market. Jeewan's participation in Blockchain and Cryptocurrency started in late 2020, and he hasn't looked back since. The technical and economic outcomes of cryptocurrency are what spark his curiosity, and he keeps one eye on the market.
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