North Korean Hackers Involved In Euler Finance Exploit: Chainalysis
The recent Euler Finance exploit is the largest attack in the crypto space in 2023. The incident occurred through a flash loan attack that led to the loss...
- Euler Finance suffered a flash loan attack that resulted in the loss of almost $200 million in crypto assets.
- Chainalysis, a blockchain analytics company, traced the stolen funds to a North Korean crypto address.
- The North Korean address received a transfer of about $170,000 of the stolen funds from the Euler platform.
- Another address linked with North Korean hackers received some Ether tokens worth almost $170 million.
- The hacker preyed on Euler software vulnerabilities that lack collateralization in flash loans to borrow huge funds.
- The hacker transferred some of the funds back to the Tornado Cash platform.
- North Korean hackers are notorious for increasing criminal activities and attacks on decentralized finance (DeFi).
- South Korea imposed sanctions on four North Korean hackers and seven groups that allegedly assisted in funding the weapons program of the regime.
The article has a negative sentiment as it discusses a major attack on Euler Finance resulting in the loss of almost $200 million in crypto assets. It also highlights the involvement of North Korean hackers in the attack and their increasing criminal activities and attacks on decentralized finance (DeFi).