Euler Finance Hacker Returns Majority of Stolen Funds
In a surprising move, the hacker behind the $200 million exploit on Euler Finance earlier this month has returned a majority of the stolen funds to the protocol. Data from blockchain explorer Etherscan shows that over 51,000 ether, valued at nearly $90 million as of Saturday, was sent back to the Euler deployer contract in the early hours of the day.
The Euler Finance Exploiter sent 51,000 $ETH($89.2M) to Euler Deployer just now.https://t.co/Dke0NwaKbH pic.twitter.com/yBIrnYBAIm
— Lookonchain (@lookonchain) March 25, 2023
Positive Market Reaction
As news of the return broke, Euler’s native EUL tokens saw a sharp uptick in value, up 25% in the past 24 hours. The majority of the move came after the hacker returned tokens to the protocol, which may have fueled positive sentiment among traders.
Exploiter’s Transactions Raise Concerns
Despite the return of funds, the exploiter made several other transactions that transferred tens of millions of dai stablecoins to another wallet, according to blockchain data. Last week, Euler offered a $1 million bounty for the hacker to return the stolen funds, with developers asking for 90% of the stolen funds to be returned at the time.
Euler Finance suffered an exploit earlier this month that resulted in almost $200 million being lost over four transactions in dai (DAI), wrapped bitcoin (wBTC), staked ether (sETH), and USD coin (USDC).
Source: CoinDesk
