DeFi Protocol Euler Finance Hacker Returns Massive 51,000 ETH

• Euler had offered a $1 million reward for the restoration of the stolen money.
• Earlier, on March 18, the hacker apparently returned $5.4 million in Ether.

The bulk of the funds stolen from the decentralized finance (DeFi) platform Euler Finance in March 2023 seems to have been returned to the platform. Even if part of the funds are still with the exploiter, the Euler hacker reportedly surrendered as much as 51,000 ETH on Saturday.

On or around March 13, 2023, an exploiter made off with the funds, most of which were held in stETH. Distributions were $135.8 million in stETH, $33.8 million in USDC stablecoin, and $8.7 million in DAI.

According to reports, it was the greatest DeFi space exploit of 2023. While the news in the crypto industry has been relatively good with a Bitcoin price surge, the global financial sector has been having a terrible time due to the bank crisis.

Negotiation Worked

Earlier, on March 18, however, there was a shocking change of events when the hacker apparently returned almost $5.4 million in Ether to Euler Finance’s deployer address. There were three separate transactions, and the hacker’s motivation for returning the money is unknown in each case.

Moreover, it was previously reported that the exploiter obtained quick loans to fund the theft. The bulk of the stolen funds from Euler Finance was reportedly returned by the attacker, according to the audit platform BlockSec.

Euler had offered a bounty for the restoration of the stolen money, which was announced last week. At the time, the team negotiated with the hacker and demanded that 90% of the stolen monies be returned to them or the exploiter will face legal action.

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