Euler Finance, a non-custodial lending protocol based on Ethereum (ETH), is currently trying to strike a deal with the hacker who stole millions from the protocol. They demand that the hacker pay back 90% of the stolen amount within 24 hours. Failure to comply with this requirement will result in legal action.
24 hours to return money
The hacker previously managed to steal around $196 million from the platform. We are therefore working hard to get as much of this money back as possible. Euler Labs therefore sent his hacker an ultimatum, which included the following:
Following our message from yesterday. If 90% of the money is not returned within 24 hours, tomorrow we will launch a $1 million reward for information leading to your arrest and the return of all money.
Via a Twitter message it was confirmed on-chain from Euler Labs.
Hacker’s response not yet known
Reportedly, Euler Labs has already provided law enforcement from several countries with information about the hacker in order to increase the chances of tracking down the hacker.
Furthermore, the lending platform indicated that it could stop the flash loan attack immediately by blocking deposits and the “vulnerable” donation function.
As for the exploited code, the team explained that the vulnerability was “not discovered” during the audit of its smart contract, which existed on-chain for eight months until it was exploited on March 13. It is not yet known what the hacker’s answer will be.