Euler hacker offers to negotiate return of funds

Please fol­low and like us:
Pin Share

Ad

CoinDesk Consensus

A hack­er who recent­ly exploit­ed Euler Finance is attempt­ing to arrange the return of stolen funds, as seen in an on-chain mes­sage on March 20.

Hacker reaches out to Euler Finance

Records from Ether­scan show that the hack­er sent an Ethereum trans­ac­tion to Euler Finance’s deploy­er con­tract. That mes­sage read:

“We want to make this easy on all those affect­ed. No inten­tion of keep­ing what is not ours. Set­ting up secure com­mu­ni­ca­tion. Let us come to an agreement.”

The text can be found in the input data field and is for­mat­ted in hexa­dec­i­mal code. It only be read after it is con­vert­ed to the UTF‑8 format.

Euler Finance has not pub­licly acknowl­edged the hacker’s offer, though reports from Decrypt sug­gest that the com­pa­ny is aware of the message.

The project pre­vi­ous­ly offered a $1 mil­lion boun­ty on March 16, demand­ing that the attack­er return 90% of the funds with­in 24 hours. Euler Finance sim­i­lar­ly attempt­ed to com­mu­ni­cate with the attack­er on-chain.

Where are the stolen funds?

Euler Finance was ini­tial­ly hacked on March 13 for near­ly $200 mil­lion. The attack­er stole var­i­ous cryp­tocur­ren­cies, includ­ing DAI, USDC, WBTC, and oth­er assets. The project said that it was aware of the hack at the time and was work­ing with law enforcement.

On March 16, days after the inci­dent, the attack­er moved 1,000 ETH ($1.7 mil­lion) through Tor­na­do Cash while also return­ing a small por­tion of the stolen funds to an indi­vid­ual user. Lat­er, on March 17, the attack­er sent 100 ETH ($170,000) to an address linked to an ear­li­er attack that was car­ried out against Ronin Bridge in March 2022.

Trans­ac­tions observed by Arkham Intel­li­gence on March 18 also sug­gest that the attack­er trans­ferred 3,000 ETH ($5.4 mil­lion) back to Euler Finance itself. Those trans­fers, com­bined with today’s mes­sage, sug­gest that the attack­er is will­ing to cooperate.

Euler Finance is a decen­tral­ized finance lend­ing and bor­row­ing plat­form built on Ethereum.

Though the cri­sis caused Euler Finance’s native token to decline in val­ue, it has par­tial­ly recov­ered. The price of the project’s EUL token is up 30% over the past 24 hours.



Source link

Please fol­low and like us:
Pin Share

Leave a Reply

Your email address will not be published. Required fields are marked *