2023-04-05
Euler Finance is a Decentralized
Finance platform for lending and borrowing cryptocurrencies. On March 13, a hacker stole $197
million included $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 from Euler Finance. The hacker hacked $197 million worth of funds and transferred
funds off from Euler Finance for several times.
Before the exploit happened, Euler Finance had
$300 million total value locked (TVL). After the exploit Euler Finance has about
$10 million in TVL. An exploit via vulnerable of code has made a huge damage to
Euler Finance.
Euler Finance has released a statement that the hacker returned an exploit of almost $200 million back to Euler Finance. It now get all of the funds that had been stolen back. As a result, Euler Finance terminated $1 million reward to people who can find the hacker. Euler Finance announced that it let the hacker off and will not condone the hacker for wrongdoing.
