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HomeSECURITYDeFi platform Euler Finance hit by major hack

DeFi platform Euler Finance hit by major hack


DeFi platform Euler Finance hit by major hack

As a result of the attack, hackers stole $197 million worth of cryptocurrency.

DeFi platform Euler Finance has been hacked, resulting in the theft of about $200 million in cryptocurrencies. About this on the MetaSleuth project page on Twitter reported BlockSec analysts.

According to the company’s initial data, $177.6 million in crypto assets were withdrawn from the project, including $8.7 million in DAI, $18.5 million in WBTC, $116 million in stETH and $33.6 million in USDC. It was later discovered that the amount of stolen assets rose to $197 million.

Project developers from Euler Labs said they have already begun to investigate the incident together with security experts and law enforcement agencies. They promised to publish more information about the hack as soon as it appeared.

Euler Finance – Blockchain DeFi Platform Ethereumproviding cryptocurrency lending services. Last year, the project raised $32 million in a funding round involving FTX, Coinbase, Jump Crypto, Jane Street, and Uniswap.

After the hack, the Euler (EUL) token price fell by 46%, and its market capitalization decreased from $98 million to $52 million. The theft of assets from the Euler Finance protocol was the largest this year.

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