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SirWin
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SirWin

Euler Finance hackers begin laundering stolen tokens 

euler-finance-hackers-begin-laundering-stolen-tokens
Edited by
News
Euler Finance hackers begin laundering stolen tokens 

Euler Finance attacker has started obfuscating the trail of the stolen $197 million worth of ether (ETH) and other crypto assets stolen from the DeFi protocol. 

The black hat hacker that orchestrated a flash loan attack on Euler Finance, a decentralized finance lending and borrowing protocol powered by Ethereum, has started mixing the stolen tokens via Tornado Cash. 

The move comes barely 48 hours after the Euler Finance team offered the bad actors a 10% bounty deal. 

Per on-chain data available on Etherscan, the attacker’s wallet address currently holds 2,500.78 ETH, worth $4,359,065.23 at the time of writing.

The Euler Foundation has set aside a $1 million reward bounty for anyone who will provide valuable information that could lead to the arrest of the hackers.

On March 16, reports emerged that the attacker had returned 100 ETH to one of the victims of the Euler Finance heist. The blockchain analytics platform, Lookonchain, also revealed that the hacker transferred 100 ETH to an address handled by the Ronin Bridge attacker.

Hacks and heists continue to plague the Web3 space, with no permanent solution. Last year, the crypto space lost over $3 billion to bad actors, and the ugly trend continued this year, with several DeFi protocols already losing millions of dollars to hackers.