The recent attack that drained $197 million from Euler Finance was nicknamed the greatest decentralized finance (DeFi) hack from 2023 so far. However, this may not stick around for much longer as the hacker reportedly had a change of heart.
On March 18, approximately 3,000 Ether (ETH) ($5.4 million) were returned to the address of the Euler Finance implementer from the address of the Euler Finance hacker. Blockchain researcher PeckShield identified three transactions that were used to send the funds.
https://t.co/4OBksAu9od pic.twitter.com/Zb3MIyex2f
โ PeckShield Inc. (@peckshield) March 18, 2023
Cointelegraph confirmed that the hacker transferred 1,000 ETH per transaction to the Euler implementer's account. However, the chances of the hacker returning the entire $197 million loot remain slim, as no further outgoing transactions were recorded at the time of writing.
On March 16, Euler Finance announced a $1 million reward to track down the hacker and recover the funds.
Today, the Euler Foundation is releasing a $1 million bounty in the hope that this will provide additional incentive for information leading to the arrest of the Euler protocol attacker and the return of all funds extorted by the attacker.
โ Euler Laboratories (@eulerfinance) March 15, 2023
The exploiter was able to drain $197 million through multiple transactions and then used a multi-chain bridge to transfer the funds from the BNB chain to Ethereum.
Related: Euler Finance hacked despite 10 audits in 2 years, CEO says
Shortly after a $1 million reward was announced, the stolen funds were moved to crypto mixer Tornado Cash.
#PeckShieldAlert @eulerfinance exploiter on the move
~1,000 $ETH in Tornado Cash via the intermediary address 0xc66d...c9ahttps://t.co/LAkY66YpoF pic.twitter.com/0XhQV1nbgnโ PeckShieldAlert (@PeckShieldAlert) March 16, 2023
Euler Finance demanded that the hacker return 90% of the funds within 24 hours to avoid potential jail time.
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