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Crime and Investigations

Multi-Million Dollar Crypto Heist Rocks Industry Leader Euler Finance

Multi-Million Dollar Crypto Heist Rocks Industry Leader Euler Finance

After acknowledging the attack, Euler Finance's native EUL token plummeted by approximately 48%.

The firm has reported that malicious actors stole cryptocurrencies, including $8.76 million worth of DAI, $33.85 million USDC, 849 Wrapped Bitcoin (WBTC) worth $18.5 million, and 85,817 staked Ethereum (stETH) worth $135.8 million.

This information has been shared via a Google document, and another on-chain data service provider, Arkham Intelligence, has supported BlockSec’s findings.

READ MORE: Bitcoin Price Soars Amid SVB Collapse

Euler Finance, a UK-based company that provides on-chain lending services, has acknowledged the exploit and is currently working with security professionals and law enforcement.

As a result of this incident, Euler Labs’ EUL token has fallen approximately 48% to $3.10, according to data from CoinMarketCap.

Euler Finance recently completed a $32 million funding round with investments from Coinbase and FTX, a now-defunct cryptocurrency exchange, in 2022.

Alexander Stefanov

Reporter at CoinsPress

Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.

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