Central issues:

• If the hacker repays the money, DEUS allows him to receive a reward of 20% of it.
• Yesterday, an attack on the Arbitrum network compromised the protocol’s DEI stablecoin, causing the DEUS token to drop by more than 30%.
• All agreements are as of now suspended, and on-chain DEI tokens are annihilated to forestall further interruption, the bug is as yet unsettled.

If the hacker repays the stolen funds, the Defi DEUS protocol will not take any legal action against him, and 20% of the funds will be used for bug bounties.

An update on the progress of the DEI stablecoin security breach was posted on Twitter on May 7 by DeFi protocol DEUS. To prevent any further disruption, all contracts are currently suspended, and on-chain DEI tokens have been destroyed.

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The group is presently finding out about DEI’s strong help. Before tokens are burned, a snapshot of all DEI balances is taken in order to accomplish this. A comprehensive strategy for collection and redemption will be developed following an evaluation of all balances. After the hack, users who are having trouble trying to arbitrage will be evaluated, and they may be allowed to reverse their trades as soon as possible.

This activity will include keep the DEI available for use and adding support from any remaining clients. Users are advised by DEUS to wait for a specific redemption plan to be implemented before interacting with an existing DEI contract.

Additionally, DEUS declares that if the funds are returned, it will not pursue any legal action. As a white hat rescue, this event will receive a bug bounty of 20% of the proceeds. The group likewise affirmed that the multi-signature on the BSC chain is constrained by the DEUS group. The team will declare openly that the funds have been received.

$1 was lost when the DEI stablecoin token was hacked. The token was as of late fixed at $0.30 and lost that stake during the assault. A fundamental technical issue in the token contract was found to be the cause of the attack, which also caused the DEUS token in the protocol to drop by more than 30%.

Prior to that, the ecosystem experienced two flash loan attacks in two months in May of the previous year, resulting in a loss of more than $30 million.