- The Euler Finance hacker has transferred part of the $200 million siphoned from the DeFi platform
- The hacker moved the funds using crypto mixer Tornado Cash
- Euler Finance developer has unveiled a $1 million bounty
The Euler Finance hacker has moved $1.6 million of the close to $200 million they siphoned from the DeFi platform on March 13. The hacker masked his trail by using crypto mixer Tornado Cash, hours after Euler disclosed plans to launch a $1 million bounty to anyone who would provide information leading to his arrest. The hacker reportedly returned funds to one affected Euler user forcing others to reach out with hopes of recovering their funds.
A Lucky Victim Gets 100 ETH
In a tweet, blockchain analytics platform PeckShield noted that the hacker sent 1,000 ETH worth slightly above $1.6 million using Tornado Cash. PeckShield also observed that 100 ETH was also transferred to a wallet believed to belong to a victim of the hack.
#PeckShieldAlert @eulerfinance exploiter on the move
~1,000 $ETH into Tornado Cash through intermediary address 0xc66d…c9ahttps://t.co/LAkY66YpoF pic.twitter.com/0XhQV1nbgn
— PeckShieldAlert (@PeckShieldAlert) March 16, 2023
The attacker’s actions come a day after Euler Finance developer Euler Labs sent the exploiter an on-chain message. In the message, the developer informed the malicious actor of an upcoming bounty meant to unearth his whereabouts and possible recovery of all the funds.
Today the Euler Foundation is launching a $1M reward in the hope that this provides additional incentive for information that leads to the Euler protocol attacker’s arrest and the return of all funds extracted by the attacker.
— Euler Labs (@eulerfinance) March 15, 2023
Euler Labs even offered the hacker to keep 10% of the funds and return the rest.
The hacker’s use of Tornado Cash shows that he may not be from the United States since the U.S. government had prohibited its citizens from using the crypto mixer.
Hacker Not Seeming too Generous
The Euler Finance hacker has deviated from recent actions from other hackers like the Tender.fi hacker who took a bounty offer of $97,000 after siphoning around $1.5 million from the protocol. Others like the Mango Markets exploiter expressed a need to keep the funds despite their physical identity being unearthed and being taken to court.
With the Euler Finance hacker moving the funds despite being offered a bounty, it’s yet to be seen how far the exploiter is willing to go to remain anonymous.