Ethereum Hacker Returns $41 Million To Euler Finance

According to PeckShield monitoring, in addition to earlier today’s Euler Finance attacker returning 15476.1 ETHs and 10.7 million Dais to the Euler deployer account via addresses beginning with 0x8765 and 0xa1b4, the attacker also returned 7738.05 ETHs to the Euler deployer account via addresses beginning with 0xc4e04. The hacker returned a total of 23214.15 ETHs and 10.7 million Dais today, equivalent to approximately $41 million. In addition, 0xa1b44 has transferred 20 million DAIs to an intermediate address 0x0d1b 843, which transfers 3 million DAIs to the Euler: Multisig 2 address.

Euler Finance hackers have returned 7738 ETHs to another Euler address, with a cumulative return of $151 million

Introduction

In recent news, PeckShield, a blockchain security company, has reported that the hacker who attacked Euler Finance has returned a large sum of cryptocurrency. According to their monitoring, the attacker returned 15476.1 ETHs and 10.7 million Dais via addresses starting with 0x8765 and 0xa1b4 respectively. Additionally, the hacker returned 7738.05 ETHs via addresses starting with 0xc4e04. In total, the hacker returned 23214.15 ETHs and 10.7 million Dais, which amounts to roughly $41 million.

The Returning of Cryptocurrency

It is uncommon for hackers to return stolen cryptocurrency after a successful attack. Generally, once hackers have control of the funds, they move them quickly to cash out or transfer them to other wallets. However, in rare cases, hackers return the stolen funds. Although the reason for this remains unclear, the most common explanation is that the hacker faced more risk of being caught.

Background on Euler Finance Attack

On March 29, 2021, there were reports that Euler Finance had been attacked, and they lost 8 million Dais and 15151.51 Ethers. Euler Finance is a multi-chain protocol that provides decentralized trading, asset lending, and yield farming services. After the successful attack, the hacker made a public announcement, claiming that he had not intended to hack the project and that he would return the stolen funds.

Additional Information on Recent Returns

Apart from the significant returns made earlier by the hacker, it has been reported that an additional 20 million DAIs were transferred from 0xa1b4 to an intermediate address identified as 0x0d1b 843. This transfer was then followed by 3 million DAIs being transferred to the Euler: Multisig 2 address. It is still unclear what this transfer was for, and no official statement has been released by Euler Finance.

Future Impacts on Euler Finance

The returning of the stolen cryptocurrency will have significant impacts on Euler Finance. The stolen funds represent a substantial portion of the project’s reserves. The return of the funds has not only restored the community’s trust in Euler Finance, but it also shields the company from the possibility of being pursued by the law.

Conclusion

To summarize, Euler Finance’s attack saw the loss of significant sums of cryptocurrency. Following the attack, the hacker returned $41 million worth of cryptocurrency, which is a rare occurrence. The return of the funds restores trust in Euler Finance, and it will protect the project from any legal backlash. Although it is uncertain why the hacker chose to return the funds, the recent turn of events is an excellent example of how blockchain security companies can help detect and prevent loss of funds.

FAQs

1. What is Euler Finance?
– Euler Finance is a multi-chain protocol that provides decentralized trading, asset lending, and yield farming services.
2. How much cryptocurrency was returned?
– The hacker returned 23214.15 ETHs and 10.7 million Dais, the estimated value of which is $41 million.
3. Why did the hacker return the stolen funds?
– The reason is still unclear, but it is believed that the hacker may have felt more risk after siphoning a substantial sum of cryptocurrency.