Euler Finance Will To Negotiate With Exploiter For $197 Million Stolen Funds

Key Points:

• The exploiter said in an on-chain message to Euler Finance that they now wish to “come to an arrangement” with the project.
• Euler also confirmed the message and wished to have a private conversation with the miner in order to recover the previously stolen funds.

Euler Finance may be taking steps to reach an agreement with the exploiter who attacked the platform last week, causing more than $190 million in damage when he started communicating with the project.

The exploiter stated in an on-chain message to Euler Finance on March 20, days after delivering cash to a red-flagged North Korean address, that they now wish to reach a deal with Euler.

“We want to make this easy on all those affected. No intention of keeping what is not ours. Setting up secure communication. Let us come to an agreement,” the exploiter said.

And the project also responded to that message with its own on-chain message, wanting to have a talk with the exploiter:

“Message received. Let’s talk in private on blockscan via the Euler Deployer address and one of your EOAs, via signed messages over email at contact@euler.foundation, or any other channel of your choice. Reply with your preference,” Euler’s on- chain message read.

As Coincu reported, Euler Finance has been exploited. BlockSec, a blockchain security organization, has been monitoring the situation, and more than that, the attack may have taken $197 million.

The project also requires the exploiter to refund 90% and retain 10% as a payment, which amounts to approximately $20 million. But, since the exploiter did not respond, the community was forced to step in, offering a $1 million prize to anybody who could locate the answer.

When the exploiter sent 100 ETH to the famous hacker group Lazarus Group, it prompted concerns about North Korea’s support for hacking groups.

As of March 18, Euler attackers had started returning funds, and 3,000 ETH has been returned so far.

It seems that this is an act of goodwill to want to communicate more with the project.

On March 20, another on-chain address contacted Euler Finance, claiming to have discovered a solid string of connections that may assist them in determining who and where the exploiter was.

The Euler Financial attack underlines the continued security problems in the DeFi industry, where smart contracts are susceptible to hacking.

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Harold

Coincu News