• The Euler Finance team recently suffered a multi-million dollar hack but the hacker behind it returned all recoverable funds.
• In total, the exploiter stole $8.7 million worth of DAI, $34 million worth of USDC, $19 million worth of WBTC, and $136 million worth of staked ETH.
• Initially, Euler Finance had proposed a deal to keep 10% of the stolen funds if they returned the remaining 90%, but the hacker ignored it and mixed them in Tornado Cash before eventually returning them.
Euler Finance Hacked
The Euler Finance team had a scare recently when they experienced a multi-million dollar attack. The hacker behind this attack managed to steal $8.7 million worth of DAI, $34 million worth of USDC, $19 million worth of WBTC and $136 million worth of staked ETH through flash loan attacks.
Euler Finance Offers Deal
In response to this incident, Euler Finance offered the attacker a deal that would allow them to keep 10% of the stolen assets if they agreed to return the remaining funds. However, instead of taking up their offer, the exploiter decided to mix their stolen crypto in Tornado Cash and ignore the proposal altogether.
Reward Offered
Eventually, Euler Foundation offered a reward amounting up to one million dollars for anyone with information about this hacker in case their attempts at recovering these funds failed. Fortunately for them though, successful negotiations allowed them to get back all recoverable funds from this hacker without having to resort to such measures.
Biggest Loss For Crypto in Q1 2023
This incident was recorded as one of the biggest losses crypto has seen in Quarter 1 2023 due its high value losses across different digital assets as well as its magnitude overall.
Happy Ending
Despite some initial uncertainty after this attack occurred and several attempts by Euler finance’s development team at recovering these funds through negotiations alone without having to resorting further measures or rewards for information on this hacker were successful – resulting in an overall happy ending for all parties involved here
