• The Euler Finance hacker has reportedly returned 51,000 ETH to the platform after stealing funds from it in March 2023.
•Euler Finance had offered a $1 million reward for the restoration of the stolen money.
•Previously, on March 18, the hacker apparently returned $5.4 million in Ether back to Euler Finance’s deployer address.
DeFi Protocol Euler Finance Hacked
On or around March 13, 2023 an exploit was made by a hacker and stole funds from decentralized finance (DeFi) platform Euler Finance most of which were held in stETH totaling $135.8 million in stETH, $33.8 million in USDC stablecoin and $8.7 million in DAI. This was one of the biggest DeFi space exploits of 2023.
Reward Offered By Euler Finance
In response to this exploit, Euler Finance offered a bounty of $1 million reward for the restoration of the stolen money backed up with legal actions if not followed through with their demands that 90% of the stolen monies be returned to them.
Hacker Returns Massive 51,000 ETH
The bulk of the stolen funds from Euler Finance was reportedly returned by the attacker on Saturday as much as 51,000 ETH according to audit platform BlockSec . Earlier on March 18th ,the hacker had already returned almost $5.4 million in Ether back to Euler Finance’s deployer address with three separate transactions but his motivation is still unknown .
Funds Obtained Through Quick Loans To Fund The Theft
It was previously reported that he obtained quick loans to fund his theft so it is still possible that part of the funds are still with him at this time but most are back with Euler finance safely now .
Global Financial Crisis
While news related to crypto industry has been relatively good , global financial sector has been facing a tough time due to bank crisis making this incident more significant than ever before .