Last Updated on April 4, 2023 by Bitfinsider
The remaining $31 million has been returned by the person who hacked and stole the decentralized lender Euler Finance. The project’s efforts to recover the hacked funds have now come to a stop.
On Monday, the perpetrator sent back $31 million through three transactions at around 6:55 p.m. EST, consisting of 10,580 ETH ($19 million) and $12 million in DAI. After accounting for the 10% bounty that the project had previously given, this raised the total amount of the returned funds to over $177 million, or 90% of the anticipated recoverable funds from the hack, according to the Euler Finance team.
The exploiter has now successfully returned all of the recoverable funds that were taken from the Euler protocol on March 13th, according to a recent tweet from Euler Labs, the project’s creator, who announced the successful recovery.
In the DeFi industry, where significant hacks have become more frequent, the return of these assets represents a rare instance of a successful resolution.
A sophisticated assault against Euler Finance on March 13 that used flash loans as leverage resulted in the loss of crypto assets valued at $197 million. With a warning to start a $1 million reward for information on the attacker if the remaining 90% of the funds were not returned, Euler Finance promised the attacker a 10% bounty worth $19.7 million to recover the stolen money.
Despite early skepticism, the recovery process started on March 18 with the return of $5.4 million to Euler after the hacker used the cryptocurrency mixer Tornado Cash to launder $1.8 million three days after the attack.
The hacker kept returning money over the next few days, but at irregular periods. They gave back the largest amount, $102 million in ETH.
On March 28, the intruder sent a string of on-chain messages to their address, sharing messages with the general public using the input data. The attacker apologized and promised to return the remaining funds as quickly as feasible in these messages.
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