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Fantom Network: $13.4 Million Funds Flash Loan Attack on Deus Finance


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According to a recent tweet by blockchain security firm PeckShield, Deus Finance has suffered a flash loan exploit on the Fantom Network which netted the attacker roughly $13.4 million in crypto assets.

The attacker took advantage of a flash loan to fool Deus' smart contracts into reading data from the platform's liquidity pools. This allowed the attacker to raise the value of some assets artificially, borrow funds, and profit after repaying the loan. This is the second exploit faced by Deus Finance in the past two months.

Flash loans, first introduced by DeFi lending platform Aave, were intended for arbitrage trading and capital efficiency. However, hackers have taken use of them to corrupt DeFi price data feeds (oracles) and carry out exploits.

https://www.theblockcrypto.com/linked/143969/deus-finance-flash-loan-exploit-nets-hacker-13-million/

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