All’s well That ends well – On March 13, the protocol Euler Finance was the victim of a hack of scale. In total, the hacker managed to steal the equivalent of 196 million dollars in cryptocurrency. Following negotiations, the hacker returned approximately 90% of the funds, or more than $177 million.
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Relief for Euler Finance: a rare restitution in the DeFi world
On March 13, Euler Finance had been the victim of a hack, resulting in a loss of 197 million dollars.
Quickly, Euler Finance tried to negotiate with the hacker to recover the funds. Thus, the protocol has offered a reward of 10% of the stolen amountor $19.7 million.
Otherwise, Euler Finance has threatened to set up a $1 million reward for any information relating to the pirate.
Fortunately for Euler, the negotiations were successful. Sure enough, the recovery process began on March 18 with the return of $5.4 million to Euler. Over the next few days, the hacker continued to return the funds.
Finally, on April 4, the Euler Finance teams announced that all of the stolen funds, less the reward, had been recovered.
“Following successful negotiations, all recoverable funds collected under the Euler Protocol on March 13 have been returned by the operator. »
The return of these funds marks a rare case in the DeFi space, where large-scale hacks are increasingly common. Euler Finance users can be relieved of this issue favorablewhich stands out from the too many stories of DeFi hacks ending with no return of stolen funds.
Unfortunately, other protocols did not experience the same outcome. Indeed, theThe Kokomo protocol was recently extorted from $4 million a way out of the scam.
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