Decentralized finance (DeFi) protocol Deus Finance has lost over $6 million due to a security breach on its stablecoin DEI (DEI). The hacker exploited a vulnerability in the BNB Smart Chain (BSC) on May 5th, according to blockchain security firm PeckShield.
A bot initiated the hack on the BSC, which led to a more than $1.3 million loss. The attacker also targeted the Arbitrum network, with ARB/ETH deploymfents losing over $5 million. Security researchers claim the token contract had a basic implementation error as the root cause, over $DEI, which is a fractional reserve stablecoin forked from frax.finance.
Update on DEI tokens security breachYesterday:In response to the security breach, all contracts were paused, and DEI tokens on chains were burnt to prevent further damage
— DEUS (@DeusDao) May 6, 2023
Deus Finance is a decentralized marketplace that allows for digital and non-digital assets, such as commodities, to be traded on the Ethereum blockchain. The platform operates using a
We współpracy z: https://cryptodaily.co.uk/2023/05/deus-finance-stablecoin-contract-exploited-for-6-million
