Euler Says All 'Recoverable Funds' Stolen in $200M Hack Have Been Returned

The culprit had already apologized.

AccessTimeIconApr 3, 2023 at 11:53 p.m. UTC
Updated May 9, 2023 at 4:11 a.m. UTC

The hacker responsible for roiling Euler Finance by draining some $200 million of assets has returned all “recoverable funds,” the decentralized lending platform tweeted late Monday.

Blockchain data on Arkham Intelligence shows the crypto address associated with the exploiter transferred 10,580 ether (ETH), worth some $19 million, to Euler on Monday.

The event signals a positive ending to one of this year’s largest crypto exploits.

The lending protocol suffered an exploit last month that resulted in almost $200 million of digital assets being drained including in dai (DAI), wrapped bitcoin (wBTC), staked ether (sETH) and USD coin (USDC).

In the following weeks, the exploiter returned a bulk of the stolen funds to the protocol and seemingly apologized in a message attached to one of the blockchain transactions.

The protocol is set to unveil a plan to restore user deposits in the coming days, the Euler Foundation posted Tuesday in the protocol's forum.

Edited by Nick Baker.

UPDATE (Apr. 4, 14:55 UTC): Adds Euler's post about restoring assets to depositors.


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Krisztian  Sandor

Krisztian Sandor is a reporter on the U.S. markets team focusing on stablecoins and institutional investment. He holds BTC and ETH.

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