DEUS Offers 20% Bonus For Hackers To Refund Stolen Money

On May 7, DeFi protocol DEUS tweeted an update on the progress of the DEI stablecoin security breach. All contracts are currently suspended, and on-chain DEI tokens are destroyed to prevent further disruption.

Today:
We are currently in the process of comprehending the actual backing of DEI tokens. To achieve this, snapshots of all DEI balances are taken before the tokens are burnt.
After evaluating all balances, we will formulate a comprehensive recovery and redemption plan.

— DEUS (@DeusDao) May 6, 2023

The team is currently learning about DEI’s solid support. To achieve this, a snapshot of all DEI balances is taken before tokens are burned. After assessing all balances, a comprehensive collection and redemption plan will be developed. For users having trouble trying to arbitrage after the hack, there will be an assessment, and they may be allowed to reverse those trades as soon as possible.

This action will involve recording the DEI in circulation and adding support from all other users. DEUS advises users to be patient and only interact with an existing DEI contract once a specific redemption plan is in place.

In addition, DEUS states that it will not take any legal action if the funds are returned. This event will be considered a white hat rescue, and 20% of the money will be awarded as a bug bounty. The team also confirmed that the multi-signature on the BSC chain is controlled by the DEUS team. The team will publicly confirm the receipt of the funds.

DEI stablecoin token was hacked and lost $1. The token was recently pegged at $0.30 and lost that peg during the attack. The cause of the attack was discovered to be a fundamental technical problem in the token contract, and this also led to a drop in the protocol’s DEUS token by more than 30%.

Before that, in May of last year, the ecosystem was hit by two flash loan attacks in the past two months, resulting in a loss of more than $30 million.

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