The developers of Euler Finance demanded that the hacker who hacked into the DeFi protocol return 90% of the stolen funds within 24 hours. Otherwise, the team will offer a $1 million reward for any information leading to the attacker’s arrest.
euler just sent an on-chain message to the hacker pic.twitter.com/0wKIW51NjM
— 0xngmi (llamazip arc) (@0xngmi) March 14, 2023
On March 13, an attacker exploited Euler Finance’s instant loan facility by posting unsecured collateral. Due to an error in the smart contract, the hacker managed to liquidate the debt and withdraw assets worth $196 million from the platform.
The project team notified US and UK law enforcement about the hack. In addition, Euler Finance turned to the analytical companies Chainalysis and TRM Labs to help investigate the incident.
The threat was preceded by an attempt to negotiate – Euler Finance offered to discuss “any potential steps.”
yesterday’s message pic.twitter.com/VCqJYpxYIe
— 0xngmi (llamazip arc) (@0xngmi) March 14, 2023
The community questioned the willingness of the hacker to cooperate.
Euler Finance disabled the vulnerable EToken module, blocking deposits. According to Sherlock’s audit team, the problem went undetected for eight months.
Source: Cryptocurrency
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