Reports indicate that the hacker responsible for the exploit of Euler Finance, a DeFi lending protocol, has returned a total of 58,737 ETH, valued at approximately USD 102 million at current market rates.
According to BlockSec, a blockchain security firm assisting Euler Labs, the hacker returned 51,000 ETH initially and later returned an additional 7,737 ETH. This comes as a surprise turn of events since the Mar. 13, 2023 hack, which resulted in a loss of USD 197 million from the protocol, was one of the largest flash loan attacks in DeFi history.
During the attack, the hacker exploited the protocol’s smart contract vulnerability and made away with USD 197 million worth of crypto assets, including USD 8.7 million of DAI, USD 19 million of wrapped bitcoin (wBTC), USD 34 million in USD Coin (USDC), and about USD 136 million of staked ether (stETH).
Euler Labs has been collaborating with security professionals and law enforcement to recover the stolen funds, offering a USD 1 million bounty for any information that could lead to their return. The return of such a significant amount of funds is a remarkable development in the DeFi space and provides hope for improved security measures to protect against future attacks.
