What's Hot

    CBDC Anti-Surveillance State Act Advances Through House Committee

    September 21, 2023

    CoinEx Resumes Operations and Fortifies Security After $70 Million Hack

    September 21, 2023

    Stanford University to Return $5.5 Million in Crypto Gifts from FTX

    September 21, 2023
    Facebook Twitter Instagram
    Facebook Twitter Instagram
    The Bull's GazetteThe Bull's Gazette
    Members Area
    • News
      1. Markets
      2. Policy & Economy
      3. Business
      4. Tech
      Featured

      CoinEx Resumes Operations and Fortifies Security After $70 Million Hack

      News September 21, 2023
      Recent

      CoinEx Resumes Operations and Fortifies Security After $70 Million Hack

      September 21, 2023

      Stanford University to Return $5.5 Million in Crypto Gifts from FTX

      September 21, 2023

      Balancer Attributes Website Hijack to DNS Provider Due to ‘Social Engineering Attack’

      September 21, 2023
    • Features
      • Opinion
    • Research
      • Publications
      • Market Analysis
      • Contribute
    • Finance & Crypto Guides
    • Consultation
    • Membership
    • Store
    The Bull's GazetteThe Bull's Gazette
    Home»News»Euler Finance Suffers a $200 Million Flash Loan Attack
    News

    Euler Finance Suffers a $200 Million Flash Loan Attack

    Anietie DavidBy Anietie DavidMarch 14, 2023Updated:March 14, 2023No Comments2 Mins Read
    Euler Finance Suffers a $200 Million Flash Loan Attack 
    Share
    Facebook Twitter LinkedIn Pinterest Email

    Euler Finance suffered a massive flash-loan attack, resulting in almost $200 million worth of crypto being compromised.

    On March 13, the Ethereum-based non-custodial lending system Euler finance was the victim of a flash loan attack, in which the attacker stole millions in Dai (DAI), USD Coin (USDC), staked Ether (StETH), and wrapped Bitcoin (WBTC). According to the most recent on-chain statistics, the exploiter carried out several transactions, taking roughly $196 million. The continuing attack has already become 2023’s biggest hack. The following is a breakdown of stolen funds:

    According to Meta Seluth, a crypto analytic business, the hack is related to the deflation attack from a month ago. The attacker initiated the attack today by using a multichain bridge to move cash from the BNB Smart Chain (BSC) to Ethereum.

    Another famous on-chain sleuth, ZachXBT, confirmed the analysis and stated that the flow of cash and nature of the assault appear to be very similar to black hats that hacked a BSC-based protocol last month. The monies were deposited to the crypto mixer Tornado Cash after abusing a protocol on BSC.

    The stolen funds are currently sitting in the following hacker addresses: 0xebc29199c817dc47ba12e3f861 02564d640cbf99 (Contract) – 8,877,507.34 DAI 0xb2698c2d99ad2c302a95a8db2 6b08d17a77cedd4 – 8,080.97 ETH 

    0xb66cd966670d962 c227b3eaba30a872dbfb995db – 88,752.69 ETH & 34,186,225.91 DAI 

    Euler Finance acknowledged the exploit and said they are currently working with security professionals and law enforcement to resolve the issue.

    We are aware and our team is currently working with security professionals and law enforcement. We will release further information as soon as we have it. https://t.co/bjm6xyYcxf

    — Euler Labs (@eulerfinance) March 13, 2023

    About Euler Finance

    Last year, Euler Finance secured $32 million in an investment round that included FTX, Coinbase, Jump, Jane Street, and Uniswap. Euler Finance became well-known for its liquid staking derivatives (LSDS) services. LSDS are a new form of token that allows investors to boost potential profits by unlocking liquidity for staked cryptocurrency such as Ether (ETH). LSDS currently account for up to 20% of the entire wealth locked in decentralized financial systems.

    Euler Finance Hack Hack Exploits
    Share. Facebook Twitter Pinterest LinkedIn Tumblr Telegram Email
    Previous ArticleSignature Bank Gets Shutdown By Regulators Following SVB Saga 
    Next Article HSBC Holdings Buys Silicon Valley Bank’s UK Unit for £1 
    Anietie David

    Anietie has worked in the blockchain industry for three years, gaining experience in blockchain technology, cryptocurrencies, DeFi, and NFTs. As a seasoned content writer, he is passionate about creating effective content strategies for blockchain brands. In addition to content writing, he also has a strong interest in front-end development. When he's not working, he spends his time reading horror novels or playing CODM.

    Related Posts

    CoinEx Resumes Operations and Fortifies Security After $70 Million Hack

    September 21, 2023

    Stanford University to Return $5.5 Million in Crypto Gifts from FTX

    September 21, 2023

    Balancer Attributes Website Hijack to DNS Provider Due to ‘Social Engineering Attack’

    September 21, 2023
    Add A Comment

    Leave A Reply Cancel Reply

    Top Posts

    Hong Kong Monetary Authority (HKMA) Issues Warning on Misleading Crypto Banking Claims

    September 18, 2023

    Report Shows that 99% of Nigerians are Crypto Aware

    September 4, 2023

    Hong Kong Report Reveals Positive Impact of Bond Tokenization on Market

    August 26, 2023

    Our best content, straight to your inbox.

    Disclaimer

    Capital at risk. Content on this website does not constitute financial advice. Please do your due diligence before making any investment.

    Company
    Company

    At the forefront of news and analysis for emerging markets, business, crypto and tech - TBG is redefining financial information through resources for next-generation economics.

    Facebook Twitter Instagram LinkedIn TikTok Discord
    Links
    • About
    • Contribute
    • Advertise
    • Careers
    • Membership
    • Investor Relations
    • Frequently Asked Questions

    TBG Newsletter

    © 2023 The Bull's Gazette.
    • Terms and Privacy
    • Contact Us

    Type above and press Enter to search. Press Esc to cancel.