Blockchain & Crypto

Euler Finance Exploiter Returns Over 58,000 Stolen Ether

ETH worth more than $101 million was returned to the lending protocol by March 25.

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The exploiter continues to maintain control over some of the previously stolen assets. The hacker behind the $196 million exploit in the Euler Finance credit protocol has recovered most of the assets. This is evidenced by on-chain data.

During the transaction on March 25, the exploiter returned 51,000 Ether. On the same day, a second transfer was made in the amount of 7,737 ETH in amount to more than $ 13 million.

Last Saturday, March 18, a hacker sent 3,000 ETH to the protocol, which at that time was almost 5.4 million dollars. Earlier, on March 13, the criminal сarried out several transactions, stealing almost $ 196 million from the protocol during the flash loan attack. This attack was the largest hacking of decentralized finance (DeFi) since the beginning of this year. The stolen assets include 8.8 million Dai, 849,000 wrapped Bitcoins (WBTC), 85 million Ethers (stETH), and 34 million US dollar coins.

A few days after the hack, the exploiter sent a message to Euler along the chain calling for an agreement with the protocol. Then it announced its intention to alleviate the situation of all the victims. The exploiter reported that there was no intention to keep for himself what rightfully does not belong to him.

Earlier, the protocol tried to negotiate with the exploiter. There was a demand to either return 90% of the stolen assets within 24 hours or go to court. This demand remained unanswered. Euler offered a reward of $1 million for any information that leads to the capture of the hacker.

The criminal made other transactions, including the transfer of 1000 ETH Smart Betting (NETH) for about 1.65 million dollars through the authorized Tornado Cash crypto mixer.

Blockchain analytics company PeckShield reports that about 100 ETH was sent to a wallet address that probably belonged to one of the victims. Earlier in a message on the network, the attacker begged to return their savings.


Serhii Mikhailov

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Serhii’s track record of study and work spans six years at the Faculty of Philology and eight years in the media, during which he has developed a deep understanding of various aspects of the industry and honed his writing skills; his areas of expertise include fintech, payments, cryptocurrency, and financial services, and he is constantly keeping a close eye on the latest developments and innovations in these fields, as he believes that they will have a significant impact on the future direction of the economy as a whole.