• The hacker responsible for the $196 million attack on Euler Finance has begun moving funds into crypto mixer Tornado Cash, hours after a $1 million bounty was launched to uncover their identity.
• Around 100 ETH, worth $165,202 at the time of writing, was sent to a wallet address that is likely owned by one of the victims.
• Euler had earlier warned it would launch a bounty “that leads to your arrest and the return of all funds” if 90% wasn’t returned within 24 hours.
Euler Hacker Moves Funds Into Crypto Mixer
The hacker responsible for the $196 million attack on Euler Finance has begun moving funds into crypto mixer Tornado Cash, only hours after a $1 million bounty was launched to uncover the attacker’s identity. Blockchain analytics firm PeckShield tweeted on March 16 that the exploiter behind the flash loan attack on Ethereum noncustodial lending protocol was “on the move”.
Bounty Launched to Identify Hacker
Euler Labs announced they were launching a $1 million reward for information leading “to the Euler protocol attacker’s arrest and the return of all funds”. This came shortly after Euler sent an on-chain message to the exploiter’s address warning them they’d launch such a bounty if 90% wasn’t returned within 24 hours.
Around 100 Ether (ETH) worth approximately $165,202 at press time was reportedly sent to a wallet address that is likely owned by one of the victims. An on-chain message from this wallet address pleaded for their life savings back before this refund occurred, leading to other purported victims sending messages in hopes of getting their funds returned as well.
Fate of Remaining Funds
The movement of 1,000 ETH worth approximately $1.65M into Tornado Cash could indicate that the hacker is not being swayed by Euler’s amnesty offer or its subsequent bounty offering. It remains unclear what will happen with any remaining stolen funds as more evidence continues to come out regarding this attack and its perpetrator(s).
While some stolen funds have been refunded back to victims due to public outcry and pressure from law enforcement agencies, it appears as though much still remains unaccounted for at this time. It will be interesting to see how this case unfolds in coming days given its magnitude and implications for both DeFi protocols and Ethereum itself going forward.