Deus Finance recovers $1M stolen funds

One of the Deus Finance exploiters returned stolen funds but still, the DeusDao team struggled to recover the rest of the funds. 

Deus Finance is a marketplace for decentralized financial services, where the infrastructure for others to build financial instruments is provided by the DEUS DAO. DeusDao is also an issuer of Dei stablecoin.

On 5 May, The DEUS team reported that a few hackers exploited its BSC chain as well as the Arbitrum network code via a bot. In that hack attack, DeusDao lost nearly $6.5 million worth of crypto assets.

1/ DEI on Arbitrum and BSC was attacked, and the loss is over $6M…A simple but classic issue: the bad implementation of allowances makes this function become a 'public' burn to manipulate the token price.https://t.co/rioDQffVxkhttps://t.co/FV5iusiwZH https://t.co/u2m3g9PO7x pic.twitter.com/kUD1BGCphV

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— BlockSec (@BlockSecTeam) May 6, 2023

On 6 May, The DEUS Dao team offered a 20% bounty reward & no legal action to the exploiters at the cost if they will return the stolen funds. 

https://t.co/KOOVCgJ9Gq

We want to officially declare that:

1. we will not pursue any legal actions if funds are returned against the entity controlling the following addresses:
0xdf61022837de1126488ed80f179eedd7af9cb465
0x08e80ecb146dc0b835cf3d6c48da97556998f599
Which…

— DEUS (@DeusDao) May 6, 2023

To get help, the Deus Dao team also invited white hat hackers to tackle the situation & prohibit other potential hack attacks. 

edit to clarify:@paladin_marco & @pcaversaccio conducted the white hat rescue together.

— DEUS (@DeusDao) May 7, 2023

Today, Deus Finance confirmed that one of the exploiters returned nearly $1.07 million worth of crypto assets. 

https://t.co/rP0TNKGdPz

Confirming

2023 ETH from 0x189cf534de3097c08b6beaf6eb2b9179dab122d1 returned.

— DEUS (@DeusDao) May 7, 2023

Dei stablecoin

Dei stablecoin is backed by the collateral of a trusted stablecoin and fractionally backed by DEUS tokens, a native token of Deus Finance. 

Because of the hack news, Dei stablecoin lost its peg but now following this good news, Dei token returned to a healthy position.

Dues token 

Deus token also surged from the trade price of  $44 to $51, following this news. 

Read also: CoinDCX crypto exchange playing games with Pepe token against customers (contravarsy)

Deus Finance recovers $1M stolen funds

 

https://bitcoinik.com/deus-finance-recovers-1m-stolen-funds/feed/

https://bitcoinik.com/deus-finance-recovers-1m-stolen-funds/feed/