- They reported on the work on the first day after the hack
- Protocol turns to blockchain detectives and police for help
The Euler Finance credit protocol will return the funds to its users. The company announced this on its official Twitter page:
The platform reported on what they have done so far:
- Stopped a direct attack related to the exploit.
- We began to cooperate with TRM Labs, Chainalysis and other blockchain detectives.
- We contacted law enforcement agencies in the US and the UK.
- Work with various organizations to audit the protocol.
Euler Finance is also negotiating with the attackers, the details are still unknown.
Recall that yesterday Euler Finance’s credit protocol fell victim to an exploit and lost about $197 million in various cryptocurrencies.
Smart contract auditor BlockSec reported that the theft occurred through four transactions in DAI stablecoins, Wrapped Bitcoin (WBTC), Staken Ether (sETH) and USDC.
MetaSleuth cryptanalysts gave their analysis. They found out that the hackers who robbed BNB Chain last year were involved in the exploit.
DeFi platforms have become a popular target for cybercriminals. They use an open source protocol and look for vulnerabilities to gain access to project assets. Yesterday, in addition to Euler Finance, hackers hacked the PeopleDAO project and stole $120,000.