Euler Finance Hacker Rejects $20M Bounty

The hacker who exploited the DeFi protocol has turned down the platform’s supply of retaining 10% by mixing 1000 ETH in Twister Money.

Hacker Mixes 1000 ETH

The perpetrator of the flash mortgage assault, which siphoned off $200 million price of property from the Euler Finance platform, has rejected a sizeable bounty supply, as a substitute selecting to maintain their stolen funds. On March 16, they blended 1,000 ETH (price practically $1.65 million) by way of Twister Money, by way of ten transactions, by sending 100 ETH in every to an intermediate handle. The hacker now has 1500 ETH within the pockets handle that orchestrated the assault. Since they’ve determined to obfuscate 1000 ETH by way of a mixer instrument, regulation enforcement businesses have a a lot more durable process to nail them down utilizing standard monitoring strategies.

Hacker Rejects 10% Provide

Earlier this week, the protocol was subjected to a flash mortgage assault, which exploited a vulnerability within the code that had been current for over eight months. The vulnerability existed within the protocol’s donation mechanism, permitting the hacker to steal $8.7 million within the DAI stablecoin, $18.5 million in Wrapped Bitcoin (WBTC), $135.8 million in Staked Ethereum (stETH), and $33.8 million in USDC.

Quickly after, the staff provided the hacker a ten% bounty with a plea to return the remaining funds. This meant that the hacker would retain 10% of the stolen funds, which is round $20 million, and return the remaining $180 million. The lending platform had additionally said that if 90% of the funds weren’t returned to the protocol, a $1 million reward can be provided to anybody who may present pertinent data to trace down the hacker and the stolen funds.

A Robinhood Hacker?

24 hours after the announcement from the Euler staff, blockchain safety agency PeckShield reported that the hacker clearly rejected this proposal and had chosen to retain the stolen funds for themselves. Nevertheless, it’s attention-grabbing to notice that the hacker transferred some funds to an investor who had instantly messaged them to simply accept the bounty supply. One other safety agency Certik launched the message from the person, which said that they weren’t a whale investor and had put their total life financial savings of 78 wstETH, into the Euler Finance protocol. Though the hacker didn’t return the funds as requested by the investor, they transferred 100 ETH to their pockets handle.

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