The recent attack that drained $197 million from Euler Finance was dubbed the biggest decentralized finance (DeFi) hack of 2023 so far. However, this may not hold for much longer as the hacker reportedly had a change of heart.
On March 18, roughly 3,000 Ether (ETH) ($5.4 million) were returned to Euler Finance’s deployer address from the Euler Finance hacker’s address. Blockchain investigator PeckShield identified three transactions that were used to send the funds.
https://t.co/4OBksAu9od pic.twitter.com/Zb3MIyex2f
— PeckShield Inc. (@peckshield) March 18, 2023
Cointelegraph confirmed that the hacker transferred 1,000 ETH per transaction to Euler’s deployer account. However, chances that the hacker will return the entire loot of $197 million remain slim, as no more outbound transactions were recorded at the time of writing.
On March 16, Euler Finance announced a $1 million reward to track down the hacker and retrieve the funds.
Today the Euler Foundation is launching a $1M reward in the hope that this provides additional incentive for information that leads to the Euler protocol attacker’s arrest and the return of all funds extracted by the attacker.
— Euler Labs (@eulerfinance) March 15, 2023
The exploiter was able to drain $197 million through multiple transactions and later used a multichain bridge to transfer the funds from the BNB Chain to Ethereum.
Related: Euler Finance hacked despite 10 audits in 2 years, says CEO
Soon after a $1 million bounty was announced, the stolen funds were moved into the crypto mixer Tornado Cash.
#PeckShieldAlert @eulerfinance exploiter on the move
— PeckShieldAlert (@PeckShieldAlert) March 16, 2023
~1,000 $ETH into Tornado Cash through intermediary address 0xc66d...c9ahttps://t.co/LAkY66YpoF pic.twitter.com/0XhQV1nbgn
Euler Finance demanded that the hacker return 90% of the funds within 24 hours to avoid possible jail time.
- SEO Powered Content & PR Distribution. Get Amplified Today.
- Platoblockchain. Web3 Metaverse Intelligence. Knowledge Amplified. Access Here.
- Source: https://cointelegraph.com/news/euler-finance-hacker-starts-returning-stolen-ether-back-to-the-foundation
- :is
- $1 million
- 000
- 1
- 10
- 2023
- a
- Able
- Account
- Additional
- address
- After
- All
- and
- announced
- arrest
- AS
- At
- attack
- audits
- Biggest
- blockchain
- bnb
- BNB Chain
- bounty
- BRIDGE
- by
- Cash
- chain
- chances
- change
- Cointelegraph
- CONFIRMED
- crypto
- crypto mixer
- DeFi
- demanded
- Despite
- down
- dubbed
- Entire
- ETH
- Ether
- ethereum
- Euler Finance
- finance
- For
- Foundation
- from
- funds
- hack
- hacked
- hacker
- Heart
- hold
- hope
- HOURS
- However
- HTTPS
- identified
- in
- Inc.
- Incentive
- information
- intermediary
- jail
- JAIL TIME
- jpg
- Labs
- launching
- Leads
- longer
- March
- million
- mixer
- more
- multichain
- multiple
- of
- on
- Peckshield
- plato
- Plato Data Intelligence
- PlatoData
- possible
- protocol
- provides
- recent
- recorded
- remain
- return
- returning
- Reward
- roughly
- says
- So
- so Far
- starts
- stolen
- stolen funds
- that
- The
- three
- Through
- time
- to
- tornado
- Tornado Cash
- track
- transaction
- Transactions
- transfer
- transferred
- will
- within
- writing
- years
- zephyrnet