Security

Euler Finance Hacker Returns $90M in ETH After Flash Loan Attack

$200M Exploit on March 13

The hacker who used a flash loan attack to steal some $200 million from Euler Finance on March 13 has returned about half of the funds, according to on-chain data.

The Euler Exploiter just returned 51,000 ETH to the Euler Deployer – that’s almost $90M.

Currently the Euler Exploiter still holds $73M of ETH and $43M of DAI.

Think they’ll send the rest? pic.twitter.com/oMtfpOA7t3

— Arkham (@ArkhamIntel) March 25, 2023

Multiple Twitter accounts relayed the positive news for Euler on March 25. The hacker sent 51,000 $ETH back to the permissionless lending protocol, which had sought the return of 90% of the funds and taken actions, including offering a $1 million reward for information.

After returning some of the funds, the hacker emptied their wallet, which now contains a little over 1 $ETH.

The value of Euler’s $EUL jumped by more than 50% on the news, although it retraced a bit over the weekend, according to CoinGecko.

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

For more information on the exploit and Euler’s response, read Twitter threads posted by Euler and its CEO Michael Bentley.

A few words about recent events.

These have been the hardest days of my life and I’m absolutely devastated for everyone who’s been affected.

— Michael Bentley (@euler_mab) March 16, 2023

   

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