102 Million Dollar Refund from Euler Hacker

A portion of the funds stolen by the attacker has been refunded, and approximately $102 million worth of ether has been returned.

In March 2022, Euler Finance was hit by one of the largest hack attacks in the DeFi world. The attacker stole approximately $197 million by taking 136 million dollars worth of staked ether, 34 million dollars worth of USDC, 19 million dollars worth of bitcoin, and 8.7 million dollars worth of DAI. The company immediately collaborated with security experts to identify the source of the problem and protect customers’ funds.

A portion of the funds stolen by the attacker has been refunded, and approximately $102 million worth of ether has been returned. However, this refund did not fully compensate for the losses, and Euler was left with a loss of approximately $94 million. This attack occurred as flash loans became popular in the DeFi world. Flash loans carry high risk due to their need for quick repayment within a short period of time.

The Euler Finance attack had a significant impact on the DeFi world and raised greater awareness about security issues. While the refunded funds were considered a positive development within the DeFi community, there is a need for further development and increased security in the sector.

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