- Euler Finance has demanded the restoration of 90% of the stolen funds.
- The hacker would repay $176.4M in response to the request for a 90% money return.
Attempting to negotiate with the hacker who stole millions from its Ethereum-based non-custodial lending protocol, Euler Finance 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:
“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.”
Keep Remaining $19.6M
Even though Euler had written the hacker 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 blockchain 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.
Recommended For You:
DeFi Platform Euler Finance Loses $197 Million in Flash Loan Exploit
Leave a Reply