Euler Finance Hacker Rejects $20M Bounty

AK
Amara Khatri

17 Mar 2023 3:50 PM

The hacker who exploited the DeFi protocol has turned down the platform’s offer of retaining 10% by mixing 1000 ETH in Tornado Cash....

  • The hacker who exploited the DeFi protocol has rejected the platform's offer of retaining 10% by mixing 1000 ETH in Tornado Cash.
  • The hacker mixed 1,000 ETH (worth nearly $1.65 million) through Tornado Cash, through ten transactions, by sending 100 ETH in each to an intermediate address.
  • The hacker now has 1500 ETH in the wallet address that orchestrated the attack.
  • The protocol was subjected to a flash loan attack, which exploited a vulnerability in the code that had been present for over eight months.
  • The hacker stole $8.7 million in the DAI stablecoin, $18.5 million in Wrapped Bitcoin (WBTC), $135.8 million in Staked Ethereum (stETH), and $33.8 million in USDC.
  • The team offered the hacker a 10% bounty with a plea to return the remaining funds.
  • The hacker rejected this proposal and had chosen to retain the stolen funds for themselves.
  • The hacker transferred some funds to an investor who had directly messaged them to accept the bounty offer.

The article has a negative sentiment as it talks about a hacker who exploited a DeFi protocol and stole millions of dollars. The hacker rejected the platform's offer of retaining 10% and chose to keep the stolen funds. The article also mentions that law enforcement agencies have a much harder task to nail them down using conventional tracking methods.

Go to publisher site

Related Questions

What is Tornado Cash?
How much did the hacker steal from the Euler Finance platform?
Did the hacker accept the bounty offer from the Euler team?
What vulnerability did the flash loan attack exploit?
Did the hacker return any of the stolen funds to the investor who messaged them?

Related Queries

DeFi
Flash loan attack
Hacker
Tornado Cash
Euler Finance

Related Content