Euler attack exploiter recently returned $31m, the final amount of recoverable funds. The protocol has recovered 90% of funds lost in the recent attack.
Attacks in the cryptocurrency industry have been quite prevalent in recent weeks. However, after suffering a hack a few weeks ago, Euler protocol announced success in their negotiations with the attacker.
In the tweet posted on April 4, Euler protocol noted that the exploiter agreed to return all the possible recoverable funds.
On March 13, Euler protocol suffered a severe flash loan attack, leading to a colossal loss of about $197 million in virtual assets. On Monday, the attacker returned around $31m in ETH and DAI crypto assets. Based on the details, these funds were transferred in 3 transactions.
Before yesterday’s last transaction, the exploiter had returned other sums of funds taken from Euler. The latest brings the total sum of recovered funds to $177 million. Euler protocol managed to recover about 90% of the funds lost.
After suffering the attack, Euler announced a reward campaign offering $1 million to people providing information about the hacker.
The hacker first returned $5.4m on March 18 and followed by returning more in the next days. The attacker even took a further step to send messages promising to recover more funds.
Following the recent recovery, the network declared the end of the $1m reward program.
Euler Finance token reacts
Following the announcement, the Euler Finance native token EUL positively reacted. The token is trading at about $3.91, a 12.85% surge in the past 24 hours.
Based on the chart, this token gained strong momentum yesterday, from a low of $3.36 to $4.05 in 3 hours. The gains were mainly driven by the news of the funds’ recovery. However, EUL is yet to climb to its value of $6.14 just before the attack.
Source: https://crypto.news/euler-hacker-returns-31m-bringing-funds-recovered-to-177m/