DeFi platform Euler Finance to announce $1M reward for capturing hacker who stole nearly $200M
The platform demanded the return of part of the funds in exchange for freedom.
DeFi platform Euler Finance will announce a $1 million reward for information that will help find the hacker who hacked the Euler Finance protocol and stole $197 million.
Cyber attack happened March 13 . According to the company’s initial data, $177.6 million in crypto assets were withdrawn from the project, including $8.7 million in DAI, $18.5 million in WBTC, $116 million in stETH and $33.6 million in USDC.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.
On the evening of March 13, the Euler Finance team sent the first on-chain message to the hacker’s address, in which they offered to start negotiations:
“We understand that you are responsible for the attack on the Euler platform. We are writing to find out if you are ready to discuss possible next steps with us.
Having received no response, on the evening of March 14, the Euler Finance team threatened the hacker that if he did not return 90% of the stolen funds (about $ 176.4 million) within 24 hours, they would announce a reward of $ 1 million for information that would lead to his arrest and the return of the stolen assets.
Euler Finance – Blockchain DeFi Platform Ethereum providing 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.