Subscribe to our Telegram channel
Hacker who stole 200 million in cryptocurrency returned half of the funds
The hacker who claimed responsibility for the $ 200 million exploit of the Euler Finance decentralized finance (DeFi) protocol has returned some of the stolen funds. He hacked the platform in early March 2023 and spent several weeks negotiating with the developers, who asked him to transfer back the stolen funds. Eventually, he transferred 51 thousand Ethereum (ETH) worth $ 89.59 million.
This data was provided by researchers from the analytical company LookonChain, who attached a link to the transaction in the blockchain explorer. They confirmed that almost $ 90 million was sent back to the Euler Finance protocol smart contract.
However, the researchers emphasized that the attacker also carried out several other transactions. He transferred several tens of millions of US dollars (USD) in the Dai (DAI) stablecoin to unknown wallets. The researchers recalled that last week, the developers of Euler Finance offered a $ 1 million reward for anyone who would provide information about the hacker. They asked him to return the stolen cryptocurrencies in exchange for a promise not to sue the cybercriminal.
Euler Finance’s lending protocol was exploited a few weeks ago. As a result, the attacker carried out 4 transactions in Dai (DAI), wrapped bitcoin (wBTC), staking ether (sETH), and USDC stablecoin.
The cybercriminal used a standard scheme. He activated a flash credit to carry out the attack, deceiving the protocol and its participants.
The native EUL tokens have increased in value by almost 25% over the past 24 hours, with most of the price movement occurring after the hacker returned the tokens to the protocol. This action has likely triggered positive sentiment among traders. Earlier, it was reported that one of the users asked the hacker to return 75 ETH and received a transfer of 100 ETH from the attacker.