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Crime and Investigations

Mysterious Attacker Returns $5.4 Million to DeFi Protocol Euler Finance

Mysterious Attacker Returns $5.4 Million to DeFi Protocol Euler Finance

According to ZachXBT, the individual who exploited Euler Finance returned 3,000 ether (ETH) worth about $5.4 million to the DeFi lending protocol on Saturday.

Euler Finance got hacked earlier this week and $197 million were stolen.

The protocol offered the attacker a 10% bounty ($19.7 million) on Tuesday in exchange for returning the remaining 90% of the stolen funds. If the funds were not returned within 24 hours, Euler Finance would have launched a $1 million reward for information that would lead to the attacker’s arrest and the return of all funds.

The $197 million loss resulted from a flash-loan attack, where DeFi users borrow large amounts of funds against zero collateral and must repay the loans before the transaction ends.

The attacker took $136 million of staked ether (stETH), $34 million of USDC, $19 million of wrapped bitcoin (WBTC), and $8.7 million of DAI from the protocol. The attacker then transferred 1,100 ETH ($1.8 million) to Tornado Cash, a cryptocurrency mixer, to launder the stolen funds.

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On Friday, the Euler attacker sent 100 ETH (around $170,500) to a wallet associated with the Ronin network hack, which is linked to the North Korean hacking group Lazarus Group.

It is unclear whether the attacker will return the remaining stolen funds. ZachXBT suggested that the attacker may be trolling, as they previously sent a transaction to Lazarus.

The U.S. Department of the Treasury added Lazarus Group to its list of designated entities in April last year.

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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