Euler Finance to announce $1 million reward for $200 million hacker who stole
DeFi-protocol Euler Finance will announce a $1 million reward for catching the hacker and recovering $197 million in stolen cryptocurrencies
The developers of the DeFi-protocol, which was hacked on March 13, have offered the hacker 90% of the stolen funds back, or they will offer a reward for information leading to his arrest
The team at DeFi-project Euler Finance will announce a $1 million reward for information that will help find the hacker who hacked the protocol on March 13 and recover the $197 million he stole. Euler Finance sent the attacker an on-chain message - a comment was attached to a null transaction sent to the hacker's address. An analyst for the DefiLlama portal under the pseudonym 0xngmi wrote about it.
According to the analytics platform DeFiLlama, Euler Finance ranked 37th in blocked value (TVL) among DeFi projects with $238 million on March 13. By March 15, the protocol had dropped to 292nd place, with TVL dropping to $10.5 million.
The hack occurred on March 13. The hacker withdrew about $197 million from the protocol in various cryptocurrencies such as DAI, WBTC, stETH and USDC
On the evening of March 13, the Euler team sent the first on-chain message to the hacker's address, offering to discuss further actions with the stolen assets:
"We understand that you are responsible for this morning's attack on the Euler platform. We are writing to see if you would be willing to discuss possible next steps with us," the statement read.
Apparently not getting a response, the developers threatened the hacker on the evening of March 14 that if he did not return 90% of the stolen funds within 24 hours, they would announce a $1 million reward for information that would lead to his arrest and the return of the stolen assets.
Thus, they offered him an urgent refund of about $176.4 million, leaving him with about $19.7 million.
Late last year, Mango Market's cryptocurrency hacker Abraham Eisenberg was arrested in Puerto Rico. He contacted the developers of the Mango project himself after the hack and reportedly reached an agreement with them to pay back $67 million of the $110 million stolen, with the platform stating that no criminal investigations would be conducted against him. In December, the U.S. Attorney's Office charged Eisenberg with fraud and attempting to steal $110 million and sued him.
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