Euler Hackers Returned Stolen Funds; EUL Token Rose over 6%

Euler Finance received the most stolen funds in more than five different transactions.
Hackers sent $10 million of DAI stablecoins with a series of apologies.

Euler Finance Protocol hacker who claimed himself as Jacob returned most stolen funds to Euler protocol and composed a series of regretful messages addressing the victim protocol.

According to Etherscan, Jacob returned 7000 ether and $10 million of DAI stablecoin to Euler Finance on early March 28. A series of apology messages were later sent on the blockchain in which the hacker claimed himself as Jacob.

The exploiter attached an encoded message with the transaction, stating, “ Jacob here. I don’t think that what I am going to say will help me, but I also want to say it. I fu**ed up.”

The encoded message further notes, “I did intend to but messed with others life-saving investments, profession, other lives. I really fu**ed I’m sorry. I did not mean all that. I really didn’t fu****g mean all this. Forgive me.”

In the last 72 hours, exploiters returned $120 million from the stolen $200 million. Between March 25-26, hackers sent around 51,000 ether to Euler Finance.

At press time, Euler governance token EUL was trading at $3.86 with a 24-hour trading volume of $2,583,778. According to data from CoinMarketCap, in the last 24 hours trading volume of EUL tokens rose over 37%.

Since exploiters have returned a massive amount of DAI tokens worth $10 million and around 7000, It is predicted that this may be a possible reason for the increasing trading price of EUL tokens.

Hackers wiped out $200 million from Euler in four transactions in four different currencies – Dai (DAI), USD Coin (USDC), staked ether (sETH), and Wrapped BTC (wBTC).

Earlier on March 14, TheCoinRepublic reported that after a massive wipeout of $200 million by exploiters EUL token slipped over 50% in a couple of hours. The lowest token traded at $1.6148 in the last month.

However, it is important to note that in just 72 hours, the EUL token broke all its records and established a new all-time low of $1.6148. It was the clear impact of the event that occurred on March 13.

Euler Finance was ready to negotiate with exploiters. It offered 1 million bounties to return the funds, but when they hadn’t received any clarification, they warned of hard legal actions against the one behind the plan.

Disclaimer

The views and opinions stated by the author, or any people named in this article, are for informational ideas only, and they do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.