Euler Finance Exploiter Begins Returning Drained ETH Tokens
The recent attack that targeted the DeFi protocol named Euler Finance was categorized as the largest hack in the DeFi sector in the current year. Nonetheless, the attacker has taken the opposite decision. On the 18th of this month, an amount of approximately 3,000 ETH (up to $5.4M) was sent back to the deployer address of Euler Finance from the address of the hacker.
Euler Finance Exploiter Sends ETH Tokens Back to the Protocol
PeckShield (a blockchain investigator) pointed toward 3 transfers through which the funds were returned. The reports mentioned that nearly 1,000 ETH tokens were sent in each transaction to the deployer account of the protocol. Nonetheless, there is still very less chance that the entire looted amount of $197M will be returned as no outbound transfers were witnessed. On the 16th of March, Euler Finance declared by Euler Finance that the firm would offer a $1M reward for tracking the attacker as well as redeeming the funds.
👀 https://t.co/4OBksAu9od pic.twitter.com/Zb3MIyex2f
— PeckShield Inc. (@peckshield) March 18, 2023
In an official post shared on Twitter, the DeFi protocol noted that it was initialing the respective reward. It also disclosed that this offers an extra incentive for the provision of the information leading to the arrest of the attacker. Another aim for giving such a huge amount was to see the return of the entirety of the funds drained by the exploiter.
Today the Euler Foundation is launching a $1M reward in the hope that this provides additional incentive for information that leads to the Euler protocol attacker’s arrest and the return of all funds extracted by the attacker.
— Euler Labs (@eulerfinance) March 15, 2023
The hacker remained successful in exploiting up to $197M via more than one transaction. After the exploit, the exploiter utilized a multichain bridge via which the funds were taken away from BNB Chain and shifted to Ethereum. Just after the announcement of the $1M as a bounty, the hacker effectively shifted the funds into Tornado Cash (a notorious crypto mixer).
Euler Finance addressed the hacker and demanded the return of 90% proportion of the stolen funds. The protocol gave an ultimatum of just 24 hours to the attacker to give the funds back. Along with keeping 10% of the drained funds, the exploiter was also assured that no legal action would be taken against him.
Lookonchain Says Euler Drainer Sent 100 ETH to Lazarus Group
Nonetheless, it added that the hacker would find it difficult to avoid likely jail time if the funds are not returned within the time limit. It was reported on the 17th of March by the on-chain analyst named “Lookonchain” that 100 ETH (almost $170,468M) was sent by the hacker to the exploiter of the Ronin Bridge attack. The respective exploit is associated with the notorious North Korean hacker team called “Lazarus Group.”