Decentralized lending platform Euler Finance announced on Monday that the hacker responsible for stealing nearly $200 million worth of assets has returned all “recoverable funds”.
The hacker transferred 10,580 ether, valued at around $19 million, to Euler Finance, as shown by blockchain data on Arkham Intelligence. This move marks a positive conclusion to one of the biggest cryptocurrency exploits of this year.
The lending protocol was exploited in March, resulting in the loss of almost $200 million in digital assets such as dai (DAI), wrapped bitcoin (wBTC), staked ether (sETH), and USD coin (USDC). However, in the following weeks, the hacker returned most of the stolen funds to the protocol and even issued an apology message in one of the blockchain transactions.
This development brings relief to Euler Finance, its users, and the cryptocurrency community. Despite this good news, the hack highlights the need for better security measures in the crypto industry to prevent such exploits in the future.
