A Shocking Turn of Events
In a jaw-dropping twist worthy of a Hollywood screenplay, the hacker behind the staggering $196 million exploit on Euler Finance has decided to give back the majority of the stolen funds. Talk about an ethical hacker! On March 25, this Robin Hood of the crypto world returned a hefty 51,000 Ether (ETH), equivalent to around $88 million at the time. But that’s not all; a second transfer on the same day saw an additional 7,737 ETH, worth over $13 million, added to the returning pile.
A Series of Generous Gifts
Prior to that generous act, on March 18, our returning thief had sent 3,000 ETH back, valued at nearly $5.4 million. It appears our hacker is feeling a little guilty, as they still retain control of some assets, which raises a few eyebrows about their true intentions.
The Great Heist
On March 13, this same character pulled off the largest decentralized finance (DeFi) hack of the year, executing a flash loan attack that left the crypto world reeling. Stolen assets from this heist consisted of:
- 8.8 million Dai (DAI)
- 849,000 Wrapped Bitcoin (WBTC)
- 85 million Staked Ether (stETH)
- 34 million USD Coin (USDC)
Attempted Negotiations
A few days after the hack, the hacker surprisingly reached out to Euler, looking to strike a deal. “We want to make this easy on all those affected. No intention of keeping what is not ours,” they said in an on-chain message, signed with a flair of dramatic irony. It’s almost like they wanted to be the good guy in this chaotic plot.
Legal Concerns and Bounties
Despite their olive branch, the protocol had initially pressed for a rapid return of 90% of the funds or face legal repercussions. When the hacker ignored this ultimatum, Euler promptly offered a $1 million bounty for any information on the elusive character. What a plot twist! Meanwhile, smaller transactions involving sanctioned crypto mixers and even piteous pleas for life savings from unfortunate victims continue to raise questions about the hacker’s next move.
