- Euler Finance was the victim of a flash loan assault that cost the company around $200M.
- Euler Foundation was offering a $1M reward for information leading to the hacker’s discovery.
On Tuesday, the decentralized finance (DeFi) lending protocol Euler Finance reported that the exploiter responsible for the multi-million dollar assault has repaid all recoverable assets. The project’s developers said the hacker had refunded all the money as per a Twitter post. On March 13, Euler Finance was the victim of a flash loan assault that cost the company around $200 million.
The hacker made off with $136 million in staked Ether, $19 million in wrapped bitcoin, $34 million in USD Coin, and $8.7 million in the decentralized stablecoin DAI, as previously reported. The attacker took out a short-term loan and used it to deplete the protocol’s resources.
Euler Financial openly offered the attacker a proposal to retain 10% of the stolen assets in exchange for the recovery of the remaining monies around two days after the exploit. After a while, the protocol revealed that should the money not be recovered, the Euler Foundation was offering a $1,000,000 reward for information leading to the hacker’s discovery.
$1 Million Offer For Hacker Info Cancelled
The exploiter ignored the suggestion and continued to mix the stolen cryptocurrency with Tornado Cash. To obfuscate the transaction from Euler’s view, the attacker transmitted 100 ETH in ten separate transactions to an intermediate address.
Almost a hundred and four million ether were refunded by the culprit to Euler Finance four days following the announcement. There were 51,000 ETH in the first trade, and 7,737 ETH in the second.
Because the exploiter did the right thing and returned the funds, and the $1 million reward campaign launched by the Euler Foundation will no longer be accepting new information.
— Euler Labs (@eulerfinance) April 3, 2023
Full details to follow tomorrow.
The hacker eventually issued an apology and sent over $77 million across two transactions including 31,000 ETH and 30 million DAI. Euler has ended the first $1 million incentive campaign after receiving the remaining $18 million in ETH and $13 million in DAI.
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