Tuesday, February 27, 2024

Euler Finance Hacker Returns $100 Million in Surprising Act – Here are the details.

In the latest development, a noteworthy milestone is that the $200 million in monies that the Euler Finance exploiter took returned mainly to the protocol.

Data compiled by blockchain security company BlockSec shows that the Euler Financial hacker has been repaying the stolen money throughout the past day. The hacker and exploiter have now sent a total of 58,737 ETH (worth roughly $102 million) to the protocol, with the most recent refund of 7,737 ETH.

This represents a startling development in the Euler breach. Earlier this month, the protocol fell prey to a flash loan assault, losing about $200 million in digital assets.

Two attackers were responsible for the loss, which spread across six transactions in dai (DAI), wrapped Bitcoin (WBTC), staked ether (sETH), and USDC, according to cryptocurrency analytic firm Meta Seluth at the time.

The money was returned after the exploiter contacted Euler via an on-chain message earlier this week to request compliance with the protocol.

“We want to simplify this for everyone impacted—no desire to hold onto anything that is not ours and establish safe communication. Let’s reach a consensus, the hacker said.

In response, the Euler team acknowledged the message and requested that the exploiter speaks with them “in private” in its on-chain statement.

Before this, Euler attempted to settle with the exploiter by demanding that they restore 90% of the money they had stolen within 24 hours, failing which they might be subject to legal action.

It is currently unknown whether the Euler team and the hacker have made an arrangement, and if so, on what terms.

Euler Finance Hackers Turn Against Each Other

Another development is that some of the hackers responsible for the Euler Finance exploit have recently vowed to divulge specific information regarding other hackers.

On March 25, a wallet containing 10 million DAI taken from Euler claimed they were willing to provide specific information about the Euler hacker in exchange for the 10% prize the project had previously promised.

Next, a text message from another wallet connected to the attack, identifying itself as “Euler exploiter 3,” supplied an email address and requested that Euler contact them to reveal more information about the hacker. They even said the bounty didn’t interest them.

Significantly, blockchain data reveals that a wallet linked to the Ronin Bridge exploiter, who is thought to be the notorious North Korean hacker group Lazarus Group, received 100 Ether ($170,515) from an address held by the hacker that attacked Euler Financial.

This sparked questions about possible connections between the North Korean hackers and the group that attacked Euler Financial.

However, some users stated North Korean hackers are not likely to be involved as the Euler hacker sent almost 100 ETH to a wallet address probably owned by one of the victims who had earlier begged the attacker to return their “life savings.”

Cryptured Team
Cryptured Team
The writers team at Cryptured.com is composed of passionate and experienced journalists who cover the latest developments in the crypto and blockchain space. They aim to provide accurate, unbiased and easy-to-understand news and information for their readers, as well as insights and analysis from industry experts. The writers team is always on the lookout for new and exciting stories that can help the general public learn more about the potential and challenges of these technologies.

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