Daily Crypto News

Euler Finance Hacker Sends 51,000 Stolen Ether Back to Protocol

The hacker behind Euler Finance’s $200 million exploit earlier this month returned a majority of the stolen funds to the protocol today.

Euler’s native EUL tokens were up 25% in the past 24 hours, with the majority of the move coming after the hacker returned tokens to the protocol – which may have fueled positive sentiment among traders.

However, the exploiter made several other transactions that transferred tens of millions of dai stablecoins to another wallet, blockchain data shows.

Last week, Euler put out a $1 million bounty offer for the hacker to return the stolen funds. Developers asked for 90% of the stolen funds to be returned at the time.

The lending protocol suffered an exploit earlier this month that resulted in almost $200 million being lost over four transactions in dai (DAI), wrapped bitcoin (wBTC), staked ether (sETH) and USD coin (USDC).

The attacker used a flash loan to conduct the attack by temporarily tricking the protocol into falsely assuming it held varying amounts of eToken and dToken, as CoinDesk explained.

Read More: Euler Finance Hacker Sends 51,000 Stolen Ether Back to Protocol

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