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DEUS's Stablecoin DEI Hacked, PeckShield Says Losses Exceed $6.3 Million

Cointime Official

May 6 (Cointime) - DEUS, the DeFi protocol that recently suffered a hack on its stablecoin DEI, is calling on all white hat hackers who were able to rescue funds during the exploit to get in touch with the DEUS team. The message confirms the DEUS team-owned multisig on Arbitrum, with the address 0x7f5ae1dc8d2b5d599409c57978d21cf596d37996.

"With the help of whitehats and partner projects, the DEUS team paused related contracts and burnt DEI to prevent further damage." the team added in a tweet.

The team will follow up with a Post Mortem and formulate a recovery plan in the upcoming days.

Later, PeckShield, a blockchain security firm, revealed that the hack appears to have been a public burn vulnerability, resulting in a loss of over $1.3 million on the Binance Smart Chain (BSC) alone. The firm also notes that the ARB/ETH deployments have been affected as well. PeckShield says that the Arbitrum deployment was hacked in a loss of over $5 million.

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