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
10 Years of Decentralizing the Future
May 29-31, 2024 - Austin, TexasThe biggest and most established global hub for everything crypto, blockchain and Web3.Register Now

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.

  • Running With Crypto: 5 Questions With TRM Labs' Ari Redbord
    00:59
    Running With Crypto: 5 Questions With TRM Labs' Ari Redbord
  • Hacks Involving North Korea Are 'Even Greater Problem': Legal Experts
    09:43
    Hacks Involving North Korea Are 'Even Greater Problem': Legal Experts
  • Breaking Down the State of Hacking in 2024
    02:01
    Breaking Down the State of Hacking in 2024
  • Crypto Hack Volumes Fell by More Than 50% in 2023: TRM Labs
    00:59
    Crypto Hack Volumes Fell by More Than 50% in 2023: TRM Labs
  • 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.

    Disclosure

    Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

    CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.

    Krisztian  Sandor

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


    Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.


    Read more about