by: Surraj JadhavPosted on:

Euler Finance hacker sends 100 ETH to a red-flagged North Korean address

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.

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.

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.