Euler Finance gets back $90 million from hacker

It happened to be a little before two weeks ago when the lending protocol, Euler Finance, went through an enormous amount of loss pertaining to its assets. This happened to have been the handiwork of a hacker. However, recently he has sent back the amount of 51,000 ETH, which happens to be the equivalent of $90 million. This is half of the total amount he had managed to siphon off. The upside happens to be the fact that, upon the release of this bit of news, the EUL token of Euler witnessed an increase of almost 40%, amounting to $3.87.

The EUL happened to have undergone a massive downslide, to the tune of $3.53, from an earlier $6.11. This took place following the immediate release of the news pertaining to the Euler Finance theft on the 13th of March, 2023. According to reliable information released by the crypto analytics company Arkham Intelligence, the hacker, at the present moment in time, happens to be still holding on to the amount of $73 million, in terms of ETH, along with $43 million in terms of DAI. 

Experts are not certain as to why the hacker decided to send back the amount that he has. As per the information received from reliable sources, the company and the hacker were going through a process of negotiations via on-chain messaging. Earlier, the hacker had also sent back 3,000 ETH in three different installments. This happened to have occurred on the 18th of March, 2023. 

The team members of Euler happened to have publicly declared a bounty amount, to the tune of $1 million, to any person offering any kind of relevant information regarding the hacker. A similar declaration was also made to the hacker to return the stolen amount, out of which the company would offer him 10%. For this, there was no revert from the hacker, but on the 20th of March, 2023, he seemed to be relenting in a way.  

Roxanne Williams

Roxanne Williams has recently joined as a market reporter for CryptoNewsZ - the 24/7 crypto news site, where she produces recent stories, technical analysis and price updates on world's leading cryptocurrencies.

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