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DEUS Finance loses $6M following stablecoin hack

Published 05/06/2023, 12:38 PM
Updated 05/06/2023, 02:40 PM

Decentralized Finance (DeFi) protocol DEUS has lost over $6 million due to a security breach on its stablecoin DEI. The hacker exploited a vulnerability in the BNB Smart Chain (BSC) on May 5, according to blockchain security firm PeckShield.

A bot initiated the hack on the BSC, which led to a loss of more than $1.3 million. The attacker also targeted the Arbitrum network, with ARB/ETH deployments losing over $5 million. Twitter users claimed the token contract had a basic implementation error as the root cause.

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