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Euler Hacker Seemingly Taking Their Chances, Sends Funds to Crypto Mixer

Just hours after a $1 million bounty was posted to find the hacker responsible for the $196 million attack on Euler Finance, the hacker has begun shifting assets into crypto mixer Tornado Cash.

PeckShield, a blockchain analytics startup, tweeted on March 16 that the perpetrator of the flash loan attack on the Ethereum noncustodial lending protocol was “on the run.” The exploiter sent 1,000 Ether $1,653, or $1.65 million, via the authorized crypto mixer Tornado Cash.

That comes only hours after Euler Laboratories announced a $1 million reward for information leading to “the arrest of the Euler protocol attacker and the restoration of all assets.” On March 14, Euler wrote an on-chain message to the exploiter’s address, threatening to start a bounty “that leads to your incarceration and the return of all monies” if 90% of the funds were not returned within 24 hours.

The transfer of cash to the crypto mixer may imply that the hacker is unconvinced by Euler’s amnesty offer. Peckshield observed that about 100 ETH, valued at $165,202 at the time of writing, was transmitted to a wallet address possibly owned by one of the victims. An earlier on-chain message posted by the wallet address asked for the attacker to refund their “life savings.”

This prompted a spate of other victims to submit messages to the address in the hopes of receiving their monies back as well.According to one message, they “are twenty-six families from jobless rural areas,” who lost “a million USDT in total,” with their portion of monies in the protocol being the “life-savings from our previous decades of employment in factories.”

Another alleged victim messaged the attacker, thanking them on their “great win” and stating that they put money into Euler that they “desperately needed” for a property.

“If we can’t finance our house, my wife is going to murder me […]” Is there any way you could assist me? “I don’t know what to tell my wife,” they wrote.

On-chain statistics show that the $196 million stolen from Euler included Dai $1.00, USDC $1.00, staked ETH, and wrapped Bitcoin (WBTC).


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