EUL Jumps 35% as Euler Finance Hacker Returns Another $100M Worth of Ethereum
The hacker behind the largest DeFi exploit of 2023 continues to demonstrate controversial behavior, as this time, they returned the majority of the funds stolen from Euler Finance.
In two separate transactions, the perpetrator sent back over $100 million worth of ETH to the protocol.
CryptoPotato reported the flash loan attack, which took place earlier in March, that saw $198 million worth of USDC, staked ether, wrapped BTC, and DAI siphoned off the DeFi lending protocol. Later reports suggested that this vulnerability was evident for over eight months before the exploit.
The team behind the project offered the attacker a $20 million bounty, which they rejected, and started laundering portions of the proceeds via TornadoCash.
Interestingly, the perpetrator returned some funds to an Euler user who complained on Twitter. Shortly after, the attacker also sent back some ether to the DeFi protocol, while reports suggested that they could be linked to the notorious Lazarus Group.
Further on-chain data from this weekend show that the hacker made two separate transactions returning over $104 million worth of ETH to Euler Finance.
The first was carried out on March 25, in which they sent back 51,000 ETH. The second, which happened hours later, saw the return of another 7,737 ETH.
The decision to return the majority of the funds positively affected the protocol’s native EUL token, which is up by more than 35% on a 24-hour scale.