1 year ago
The hacker committed a $196 cardinal flash indebtedness onslaught connected the Ethereum-based lending protocol connected March 13.
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Collect this nonfiction arsenic an NFT
Ethereum-based noncustodial lending protocol Euler concern is trying to chopped a woody with the exploiter that stole millions from its protocol, demanding the hacker returns 90% of the funds they stole wrong 24 hours oregon look ineligible consequences.
The level was exploited for $196 million connected March 13 and Euler Labs sent its ultimatum to the flash loan attacker by transferring them 0 Ether (ETH) with an attached connection connected March 14:
“Following up connected our connection from yesterday. If 90% of the funds are not returned wrong 24 hours, time we volition motorboat a $1M reward for accusation that leads to your apprehension and the instrumentality of each funds.”euler conscionable sent an on-chain connection to the hacker pic.twitter.com/0wKIW51NjM
— 0xngmi (llamazip arc) (@0xngmi) March 14, 2023The menace of instrumentality enforcement comes arsenic Euler sent the hacker a overmuch much civilian connection the time before.
“We recognize you are liable for this morning’s onslaught connected the Euler platform,” it read. “We are penning to spot whether you would beryllium unfastened to speaking with america astir immoderate imaginable adjacent steps.”
The petition for a 90% money instrumentality would spot the hacker nonstop backmost $176.4 cardinal portion holding onto the remaining $19.6 million.
However, galore observers person noted that the hacker has precise small to nary inducement to travel done with the deal.
Look implicit your enarthrosis for the remainder of your life, oregon instrumentality a $20m deal. No brainer.
Although, they could easy beryllium authorities actors and aren’t truly disquieted astir debased levels feds. https://t.co/i5zUSDqFca
“If I was the hacker I’d simply accidental “to anyone who manages to way maine down, I volition springiness you $2 cardinal not to archer Euler,” 1 perceiver said.
“Yeh helium has 200 Million they person 2 Million. He wins successful a bidding war”, different Twitter idiosyncratic wrote successful response.
Euler Labs said they’re already moving with instrumentality enforcement successful the United States and the United Kingdom on with engaging blockchain quality platforms Chainalysis, TRM Labs and the broader Ethereum assemblage to assistance way down the hacker.
An update connected our enactment contiguous to retrieve funds for Euler protocol users.
Here are a fewer actions we took immediately:
1. Stopped the nonstop onslaught arsenic soon arsenic imaginable by helping disable the EToken module, which blocked deposits and the susceptible donation function
2. Engaged TRM… https://t.co/6ZClE9uGoH
Related: DeFi protocol Platypus suffers $8.5M flash indebtedness attack, fishy identified
The lending level added it was capable to promptly halt the flash indebtedness onslaught by blocking deposits and the “vulnerable” donation function.
As for the exploited code, the squad explained the vulnerability “was not discovered” successful its astute declaration audit, which existed on-chain for 8 months until it was exploited connected March 13.
Euler Labs works with assorted information groups to execute audits of the Euler Finance protocol.
While the susceptible codification was reviewed and approved during an extracurricular audit, the vulnerability was not discovered arsenic portion of the audit.
The vulnerability remained on-chain for eight… https://t.co/M3PYSOwHhL
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