Euler Finance Offers Hackers to Return 90% of Stolen Funds

hacks_2 minutes

The developers of Euler Finance demanded that hackers who breached DeFi protocols return 90% of the stolen funds within 24 hours. Otherwise, the team is offering a $1 million reward for any information that leads to the arrest of the attackers.

On March 13, attackers 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 $196 million worth of assets from the platform.

The project team notified US and UK law enforcement of the hack. Additionally, Euler Finance turned to analytics firms Chainalysis and TRM Labs to assist in investigating the incident.

“If 90% of funds are not returned within 24 hours, we are offering a $1M bounty for information leading to your arrest and return of all assets,” reads the on-chain message.

Attempt to negotiate before issuing threats – Euler Finance offers to discuss “any possible steps”.

The community questioned the hackers’ willingness to cooperate.

Recall that Euler Finance disabled the vulnerable EToken module, preventing deposits. According to Sherlock’s audit team, the issue went undetected for eight months.

Subscribe to ForkLog on social networks

Found an error in the text? Select it and press CTRL+ENTER

ForkLog Newsletter: Keeping an Eye on the Pulse of the Bitcoin Industry

Information source: compiled from FORKLOG by 0x Information.Copyright belongs to the author Петр Иванов, without permission, may not be reproduced

Related Posts

Directory of IT projects submitted by Ukraine MinCifra

The Minister of Digitalization of Ukraine and the Ukrainian IT Association launch a catalog of promising projects and products in the field of Internet technologies This includes 96 companies, two of which are directly related to the Web3 space. The Minister of…
Read More