• Without saying why the hacker also sent 3k ether to Euler’s deployer account.
• 10 independent audits had been undertaken over two years to ensure its security by Euler.

The DeFi ecosystem has once again become a haven for hackers, as lending protocol, Euler Finance was recently hit by a flash loan assault that resulted in a net loss of approximately $19 million. This was the largest heist of 2023 to date.

Since the largest decentralized finance (DeFi) theft of 2023 hit Euler Finance, the crypto community has been tracking the $197 million stolen on-chain in an effort to identify and stop the perpetrator. As part of a larger sequence of transactions, the hacker reportedly transmitted 100 Ether to an address used by people with ties to North Korea.

Chainalysis, a blockchain research firm, discovered that 100 ether (ETH) stolen from Euler was sent to an address previously associated with hacks with ties to North Korea. Without saying why the hacker also sent three thousand ether to Euler’s deployer account.

Maybe a Possible Diversion

There have been no other transfers since then.  No one knows whether the hackers were just trolls or if they were really considering the $20 million bounty offered by Euler Finance.

Although Chainalysis suspected the participation of North Korea in the Euler Financial breach, it underlined the potential of diversion by other hackers. The CEO of Euler Labs, Michael Bentley, expressed his outrage with the $197 million theft by publicly disclosing that 10 independent audits had been undertaken over two years to ensure its security.

From May 2021 to September 2022, smart contract audits were performed on Euler Finance by a number of blockchain security organizations, including Halborn, Solidified, ZK Labs, Certora, Sherlock, and Omnisica.

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