Euler surges 15% after protocol recovers all stolen funds Euler surges 15% after protocol recovers all stolen funds
The Euler exploiter returned a total of $177 million from the roughly $200 million stolen from the DeFi project.
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Updated: Apr. 4, 2023 at 9:50 am UTC
Cover art/illustration via CryptoSlate. Image includes combined content which may include AI-generated content.
Euler’s EUL token rallied by around 15% to as high as $3.96 in the last 24 hours, according to CryptoSlate data.
EUL’s value had retraced to $3.40 at the time of writing.
The decentralized finance (DeFi) project’s positive price performance was influenced by news that it had recovered all the stolen funds from the March 13 hack.
An April 4 statement from Euler Labs, its developer, stated that:
“All of the recoverable funds taken from the Euler protocol on March 13th have now been successfully returned by the exploiter.”
The protocol added that it would no longer accept new information for its $1 million reward campaign that it used to incentivize the community to provide information on the exploiter.
Euler hacker refunds $177 million
According to available information, the Euler exploiter returned $177 million from the roughly $200 million stolen from the DeFi project.
On-chain data shows the exploiter returned $31 million in three transactions on April 3. Before then, the attacker had returned part of the stolen funds over several transactions since March 18.
The hacker’s initial transactions prompted speculations that he might not return the funds. The attacker sent 100 ETH to North Korea-linked hackers of the Ronin Bridge and moved 1000 Ethereum (ETH) into the Tornado Cash mixer.
Meanwhile, the hacker apologized for his actions in an on-chain message on March 28. The message reads:
“Jacob here. I don’t think what I say will help me in any way but I still want to say it. I fucked up. I didn’t want to, but I messed with others’ money, others’ jobs, others’ lives. I really fucked up. I’m sorry. I didn’t mean all that. I really didn’t fucking mean all that. Forgive me.”
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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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