Euler Finance Hacker takes the risky path, launders looted funds through Crypto Mixer
The crypto space is still seething with the latest crypto attack on the decentralized lending protocol, Euler Finance. The exploit, which took place on March 13, saw the platform lose around $196 million in crypto assets. The hacker preyed on software vulnerabilities in the lending protocol to carry out the act.
Although Euler Finance gave the hacker an ultimatum to return the funds within 24 hours or face prosecution, the latter seems to be their choice. Therefore, the attacker allegedly sent the stolen funds to a crypto mixer.
Hacker transfers part of stolen funds
PeckShield reported the latest move by the hacker to Euler Finance through a Twitter post. According to the blockchain analytics company, the flash loan exploiter moved 1,000 ETH tokens worth nearly $1.65 million to the famous crypto mixer Tornado Cash. The firm noted that the hacker sent the Ether tokens through an intermediate address.
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Also CertiK Alert reported that the exploiter moved 2,500 ETH tokens worth about $4.13 million to another address marked as Fake_Phishing76535.
The DeFi lending protocol had previously sent a chain message to the attacker’s address demanding that he return 90% of the funds within 24 hours. It threatened to launch a $1 million reward to anyone who would provide information leading to the arrest of the hacker and the recovery of everything stolen. Euler Finance sent the message on March 15, a day before the attacker’s recent money transfer.
The hacker’s move to send part of the stolen funds to a crypto mixer came a few hours after Euler’s ultimatum. This shows that the attacker is not shaken by the message as an agreement or threat.
Euler Finance Hacker returns a victim’s funds
Furthermore, in its tweet, PeckShield mentioned that the Euler Finance hacker also sent out 100 ETH tokens worth almost $165,202 at the current crypto market price. The funds went to a wallet address possibly belonging to a victim of the attack.
According to the research firm, the wallet address had previously sent a message on the chain to the attacker asking for their money. Also, another Twitter user, ‘Wazz,’ confirmed that the victim begged that hacker for the money, explaining that it was their life savings. The victim mentioned that they are in a mess, they are neither a whale nor a millionaire, but a commoner struggling with life.
After the return of the victim’s funds, other victims have bombarded the hacker’s address with messages. They hope to get their money back as well.
One of the messages congratulated the hacker on the big win through the flash loan attack. However, the user later explained that the investment in Euler was through a collective effort with his wife. So he asked for the funds to help them get a house they desperately needed, citing that his wife would kill him if the money was not returned.
Another message to the exploiter said their collective investment was one million USDT tokens. The funds are a lifesaver for 26 families who are unemployed in the countryside after working for decades in factories.
Featured image from Pixabay and chart from Tradingview.com
