Euler finance hacker moves stolen fund as protocol offers $1M bounty Euler finance hacker moves stolen fund as protocol offers $1M bounty
The Euler labs attacker sent one of the DeFi protocol users 100 ETH, leading to speculations that the hacker could return the funds.
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Updated: Mar. 16, 2023 at 9:32 am UTC
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Euler Finance hacker has started moving some of the stolen funds through sanctioned mixing protocol Tornado Cash, according to on-chain data.
Blockchain analytics firm PeckShield reported that the hacker moved 1000 Ethereum (ETH) into the Tornado Cash mixer through an intermediary address “0xc66d…c9a.”
The firm added that the hacker still holds 1,500 ETH — roughly $2.47 million — at the same address.
Blockchain security firm Certik corroborated Peckshield’s report, adding that the “0xc66d” address is labeled as Fake_Phishing76535 on Etherscan.
Euler offers $1 million bounty
Meanwhile, Euler Labs has offered a $1 million reward to anyone who can provide information that could lead to the retrieval of the stolen funds and the hacker’s arrest.
The protocol has set up a bounty recovery fund — the address has been funded with $1 million USDC as of press time.
Before then, the decentralized finance (DeFi) protocol had offered the hacker 10% of the funds through an on-chain message. The protocol warned that a refusal could lead to the “arrest and the return of all funds.”
Euler users beg attacker for refund
Meanwhile, the attacker showed kindness by sending 100 ETH — $166,000 — to an Euler user who said the exploit robbed him of his 78 wstETH life savings on the protocol. “You can’t imagine the mess I’m into right now, completely destroyed,” the user added.
The move has attracted several others begging the attacker for a refund. One of the on-messages reads:
“You are a legend. Congratulations on your big win. I had money that my wife and I desperately needed for a house invested in Euler. My wife is going to kill me if we can’t afford our house.”
The attacker’s action has elicited several speculations from the community, which argues that this shows that there are hopes for funds recovery
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Oluwapelumi Adejumo
Oluwapelumi values Bitcoin's potential. He imparts insights on a range of topics like DeFi, hacks, mining and culture, underlining transformative power.
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