Hacker behind Euler Finance breach returns more than $100 million in Ethereum

The hacker behind the DeFi protocol Euler Finance returned to the project over 58,700 ETH (more than $103 million at the time of writing). The EUL token price rose 23%.

Wallet labeled Euler Finance Exploiter 5 on Etherscan has transferred an additional 7.7K ETH ($13.6M) to the Euler Finance deployer wallet. pic.twitter.com/ZGilA162YS

— CertiK Alert (@CertiKAlert) March 25, 2023

Euler Finance was hacked on March 13. As a result of the attack using flash loans, the attacker drained assets from the protocol worth $196 million, according to BlockSec. In particular, the hacker stole over 85,800 ETH.

On March 25, an unknown actor, in two transactions, returned a large portion of the stolen funds to the project. Against this backdrop, the governance token EUL rose above $4 for the first time since the hack.

As of writing, quotes were trading near $3.46, according to CoinGecko.

On March 15, the Euler Finance team requested the hacker to return 90% of the stolen funds. When there was no reply, the developers announced a $1 million reward for any information that could lead to the attacker’s arrest.

Earlier on March 21, the hacker contacted project representatives via on-chain messages and proposed “to establish a secure line of communication and come to an agreement”. Euler Finance said they were willing to listen to his wishes.