DEUS Finance Loses Over $6 Million Due to Security Breach on DEI Stablecoin

DEUS Finance Loses Over $6 Million Due to Security Breach on DEI Stablecoin



Deus Finance, a decentralized finance (DeFi) protocol, has suffered a security breach that has resulted in a loss of more than $6 million in its stablecoin DEI. The attack was carried out by a hacker who exploited a vulnerability in the BNB Smart Chain (BSC) on May 5th, causing a loss of over $1.3 million. The attacker also targeted the arbitrum network, resulting in a loss of more than $5 million.



The protocol paused all contracts and burned the DEI tokens to prevent further damage. The team is currently investigating the backing of DEI tokens and will create a recovery plan after analyzing the balances and snapshots. DEI is used as a collateral mechanism for third-party instruments built on the Fantom protocol and has dropped by 30% over the past 24 hours, trading at $0.20.



This is not the first time Deus Finance has been


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#Altcoin, #Blockchain, #Cryptocurrency, #Cryptomarket, #Cryptonewstoday, #News

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