Since Euler Finance was the victim of the greatest decentralized finance (DeFi) hack of 2023, the crypto community is closely monitoring the loot of $197 million on the chain, hoping to track down the attacker. Of the series of transfers made by the hacker, a transaction of 100 Ether (ethics) was allegedly sent to an address associated with actors linked to North Korea.
Blockchain researcher Chainalysis identified that 100 ETH of Euler’s stolen funds were transferred to an address that was flagged in a previous hack with links to North Korea.
100 ETH stolen on Monday #euler The financial hack has moved to an address associated with a previous hack by #North Korealinked actors. This may mean that Euler’s trick is the work of #DPRK too, or it could be a misdirection by other hackers. We will share more details as possible. https://t.co/DxvGsc90Z8 pic.twitter.com/5QPphNtyYY
—Chainalysis (@chainalysis) March 17, 2023
At the same time, the hacker also transferred 3000 ETH to Euler Deployer account without revealing his intention. However, no other transfers were made thereafter at the time of writing this report. In both cases, it was not clear if the hacker was trolling or if he actually considered accept the $20 million reward from Euler Finance,
While Chainalysis was suspicious of North Korean involvement in the Euler Finance hack, they highlighted the potential for other hackers to divert them.
Related: Euler hacker is apparently taking a risk and sending funds to the cryptocurrency mixer
Euler Labs CEO Michael Bentley shared his dissatisfaction with the $197 million hack when he revealed that ten separate audits conducted over two years ensured their safety.
Euler has always been a security-oriented project. Euler smart contracts were audited, including vulnerable lines of code.https://t.co/SvNeoKEGuY
—Michael Bentley (@euler_mab) March 16, 2023
As Cointelegraph previously reported, blockchain security firms including Halborn, Solidified, ZK Labs, Certora, Sherlock, and Omnisica conducted smart contract audits at Euler Finance from May 2021 to September 2022.
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