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Euler Finance Hacker Sends 51,000 Stolen Ether Back to Protocol
EUL tokens jumped 47% on the transfer of tokens.
Updated Mar 27, 2023, 5:25 p.m. Published Mar 25, 2023, 4:01 p.m.
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The hacker behind Euler Finance’s $200 million exploit earlier this month returned a majority of the stolen funds to the protocol Saturday.
Euler's native EUL tokens were up 25% in the past 24 hours, with the majority of the move coming after the hacker returned tokens to the protocol, which may have fueled positive sentiment among traders.
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Data from blockchain explorer Etherscan shows over 51,000 ether, valued at nearly $90 million as of Saturday, was sent back to the Euler deployer contract in early U.S. hours.
However, the exploiter made several other transactions that transferred tens of millions of dai stablecoins to another wallet, blockchain data shows.
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
Last week, Euler put out a $1 million bounty offer for the hacker to return the stolen funds. Developers asked for 90% of the stolen funds to be returned at the time.
The lending protocol suffered an exploit earlier this month that resulted in almost $200 million being lost over four transactions in , wrapped bitcoin (wBTC), staked ether (sETH) and USD coin (USDC).
The attacker used a flash loan to conduct the attack by temporarily tricking the protocol into falsely assuming it held varying amounts of eToken and dToken, as CoinDesk explained.
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