The Evolving Saga of the Euler Finance Heist: Hacker Returns Ether, Rewards Offered

The Great Heist of 2023: A Brief Overview

In what has been termed the biggest decentralized finance hack of 2023, Euler Finance was left reeling after a hacker drained a staggering $197 million. As if stolen money wasn’t enough, this saga took an intriguing turn when the infamous hacker seemed to have had a twinge of guilt (or maybe just a desire to save their skin).

The Unexpected Return: What Happened?

On March 18, 2023, in a plot twist that even Netflix couldn’t script, the hacker returned around 3,000 Ether (ETH), worth about $5.4 million, back to Euler Finance’s deployer address. This act has raised eyebrows and questions. Was it a change of heart, or simply a strategic retreat?

The Return of Funds: How It Played Out

Blockchain investigator PeckShield tracked three transactions confirming the return of funds. Each time, the hacker moved 1,000 ETH in a bid to clean their conscience (or their wallet?). Unfortunately, while 5.4 million is impressive, it’s nowhere nearly close to the total stolen.

The Game Plan: Euler Finance’s Counteroffensive

In a classic case of cat and mouse, Euler Finance announced a $1 million reward aimed at tracking down the elusive hacker. As they say, desperate times call for desperate measures, and a bounty for information is surely one of them. But will it truly incentivize anyone to come forward?

The Bounty Announcement

On March 15, 2023, Euler Labs tweeted:

“Today the Euler Foundation is launching a $1M reward in the hope that this provides additional incentive for information that leads to the Euler protocol attacker’s arrest and the return of all funds extracted by the attacker.”

How Did It All Go Down? The Mechanics of the Heist

The heist was executed with such finesse that it left experts scratching their heads. The hacker employed multiple transactions and utilized a multichain bridge to move funds from the BNB Chain to Ethereum. Talk about a slippery operation!

Mixer Mayhem

Fueling the fire, soon after the bounty was announced, the stolen funds found their way into the crypto mixer Tornado Cash. This raises questions about how many criminals (and wannabe Robin Hoods) are lurking in the world of crypto.

A Dose of Stern Advice: A 24-Hour Ultimatum

In a final, desperate attempt to reclaim their funds, Euler Finance demanded that the hacker return 90% of the stolen loot within 24 hours. Failure to comply would result in potential jail time. But let’s be real, how often do hackers take attackers seriously, especially when they’re already shoulder-deep in trouble?

Conclusion: Will Justice Prevail?

As this story unfolds, the community watches with bated breath. Will the hacker return more funds? Is the promised bounty enough to motivate someone to rat them out? For now, only time will tell. But one thing’s for sure: the saga of the Euler Finance heist is far from over.