Last Updated on March 27, 2023 by Bitfinsider
The Euler Finance exploiter has given the DeFi loan protocol 58,737 ether. The payout was split into two payments of 51,000 and 7,737 ether.
On March 13, Euler suffered a $197 million loss as a result of a flash-loan assault. According to CoinGecko, the euler cryptocurrency is now worth $3.76, a 43% increase.
The Euler exploiter initially emptied the protocol of $136 million in staked ether, $34 million in USDC, $19 million in wrapped bitcoin, and $8.7 million in DAI.
The perpetrator obtained large sums of money and used them to drain the protocol. Since then, Euler Labs, the protocol’s creator, has been collaborating with security experts and law enforcement.
Flash loans have grown in popularity among exploiters. Borrowers can use this technique to obtain large sums of money without putting up any collateral. Because the borrower must repay the loan in a brief period of time, flash loans are high risk.
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