Euler

<ul><li>Euler Finance has demanded the restoration of 90% of the stolen funds.</li><li>The hacker would repay $176.4M in response to the request for a 90% money return.</li></ul>Attempting to negotiate with the hacker who stole millions from its <a href="https://thenewscrypto.com/tag/ethereum-eth/" rel="noopener noreferrer nofollow">Ethereum</a>-based non-custodial lending protocol, <a href="https://www.euler.finance/" rel="noopener noreferrer nofollow">Euler Finance</a> has demanded the restoration of 90% of the stolen funds within 24 hours or face legal penalties.On March 14, Euler Labs sent an offer to the hacker responsible for the $196 million flash loan vulnerability by sending him zero ether (ETH) along with a message.The message stated:<blockquote>“Following up on our message from yesterday. If 90% of the funds are not returned within 24 hours, tomorrow we will launch a $1M reward for information that leads to your arrest and the return of all funds.”</blockquote><h3 id="keep-remaining-19-6m">Keep Remaining $19.6M</h3>Even though Euler had written the <a href="https://thenewscrypto.com/tag/hack/" rel="noopener noreferrer nofollow">hacker</a> a far more polite reply the day before, it now threatens to hunt him down with the help of law enforcement. The hacker would repay $176.4 million in response to the request for a 90% money return, keeping the remaining $19.6 million.Several onlookers, however, have pointed out that the hacker has almost little reason to actually complete the transaction. Euler Labs has said that it has enlisted the services of law enforcement in both the United States and the United Kingdom, as well as the <a href="https://thenewscrypto.com/blockchain-news/" rel="noopener noreferrer nofollow">blockchain</a> intelligence platforms Chainalysis, TRM Labs, and the greater Ethereum community, in order to identify and apprehend the hacker.According to the lending platform, it quickly put an end to the flash loan assault by disabling deposits and the susceptible donation feature. Although the attacked code had been on-chain for eight months before its March 13 discovery, the company claimed that the vulnerability was not detected during an examination of its smart contract.

Euler Finance Offers Hacker Two Choices: $20M Bounty or Legal Action

Table of Contents

TheNewsCrypto

Outros artigos publicados em 15 de mar. de 2023

Event to celebrate the adding of 4 New Assets (KLAY, WBTC, ETH, BNB) to WEMIX.Fi’s Lend & Borrow

Wemade announces Partnership with Space and Time to Power Blockchain and Gaming Services

U.S. DOJ Was Investigating Signature Bank's Work With Crypto Clients: Bloomberg

The MOBIX Expansion – From Micromobility to Ecomobility

GPT4 (ChatGPT) revealed vulnerabilities in Ethereum Smart Contracts

Why Will Bitcoin Replace Credit Cards Soon?

Join our free newsletter for daily crypto updates!