That recent attack drained $197 million from Euler Finance was called the greatest decentralized finance (DeFi) so far the hack of 2023. However, that may not be long as the hacker has reportedly changed his mind.
On March 18, roughly 3,000 Ether (ETH) ($5.4 million) were returned to the Euler Finance deployment address from the Euler Finance hacker’s address. Blockchain investigator PeckShield identified three transactions that were used to send the funds.
https://t.co/4OBksAu9od pic.twitter.com/Zb3MIyex2f
— PeckShield Inc. (@peckshield) March 18, 2023
Cointelegraph confirmed that the hacker transferred 1,000 ETH per transaction to Euler’s deployment account. However, the chances of the hacker returning the entire $197 million loot remain slim as no further outgoing transactions have been recorded at the time of writing.
On March 16, Euler Finance announced a $1 million reward for tracking down the hacker and recovering the funds.
Today, the Euler Foundation is launching a $1 million reward in hopes that this will provide an additional incentive for information that leads to the arrest of the attacker of the Euler protocol and the return of all funds obtained by the attacker.
— Euler Labs (@eulerfinance) March 15, 2023
The exploiter was able to siphon off $197 million through multiple transactions and later used a multi-chain bridge to transfer funds from the BNB chain to Ethereum.
Related: Euler Finance hacked despite 10 audits in 2 years, CEO says
Soon after the $1 million reward was announced, the stolen funds were moved to the Tornado Cash crypto mixer.
#PeckShieldAlert @eulerfinance exploiter on the go
~1000 $ETH to Tornado Cash via intermediary address 0xc66d…c9ahttps://t.co/LAkY66YpoF pic.twitter.com/0XhQV1nbgn— PeckShieldAlert (@PeckShieldAlert) March 16, 2023
Euler Finance demanded that the hacker return 90% of the funds within 24 hours to avoid possible jail time.
