Euler Finance hacker returns $90 Mln in stolen assets

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Key Takeaways

  • As per on-chain data, the hacker returned 51,000 ETH ($90M) to Euler’s deployer wallet.
  • The exploiter still possesses $73M in ETH and $43M in DAI. 

The hacker behind the $196 million flash loan attack against Euler Finance has returned half of the stolen assets. As per on-chain data, the hacker has returned 51,000 ETH ($90M) to Euler’s deployer wallet.

According to crypto analytics firm Arkham Intelligence, the exploiter still possess $73M in ETH and $43M in DAI. The latest development comes amid negotiations between the hacker and Euler Finance over fund returns.

Following the hack, the exploiter sent an on-chain message to Euler seeking an agreement with the DeFi protocol. “We want to make this easy on all those affected. No intention of keeping what is not ours. Setting up secure communication. Let us come to an agreement,” the message reads. Last week, the hacker returned 3,000 ETH in three separate transactions.

Days after the hack, the lending protocol also offered a $1 million reward for information about the attackers. Developers asked for 90% of the stolen funds to be returned at the time.

Euler Finance suffered an exploit on March 13, resulting in almost $200 million being lost over four transactions in dai (DAI), wrapped bitcoin (wBTC), staked ether (sETH), and USDC. Stolen assets include 8.8 million DAI, 849,000 wBTC, 85 million stETH, and approximately 34 million USDC stablecoin.

The exploiter reportedly used a flash loan to conduct the attack by temporarily tricking the protocol into falsely assuming it held varying amounts of eToken and dToken.

Blockchain analytics firm Chainalysis identified that around 100 ETH from Euler’s stolen funds was transferred to an address flagged in an older exploit with links to North Korea.

The Euler exploit reportedly also affected several defi lending protocols, including Balancer, which stated that the Euler Boosted USD (bb-e-USD) pool had been affected by the exploit. Apart from Balancer, Yield Protocol, Swivel Finance, Angle, and several others all announced their level of exposure to their communities.

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Saniya Raahath
Saniya Raahath

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