### Euler Finance recently experienced a devastating cyberattack that resulted in the theft of over $197 million in cryptocurrency. The attack saw the hacker make off with $8.75 million of DAI, $18.5 million of WBTC, $33.85 million of USDC, and $135.8 million of stETH. As a result of the attack, the Euler (EUL) token plummeted by 44% within 24 hours to $3.37.

A million dollar reward has been offered by the Euler Foundation, the organization in charge of the Euler Finance protocol, for information leading to the attacker's capture and the return of all stolen funds. The Foundation has said it is cooperating closely with law enforcement and cybersecurity professionals to track down those responsible for the cyberattack.



One glimmer of hope for investors is that the hacker's wallet, which was used to hold the stolen crypto, has been detected and tracked. This means that the hacker will most likely not be able to transfer or convert the stolen crypto. However, the recovery of the stolen funds still remains uncertain.



Unfortunately, the hack on Euler Finance is just the most recent in a long line of high-profile attacks on the cryptocurrency industry. Due to their decentralized nature, cryptocurrency transactions cannot be undone and are nearly impossible to track, making them a prime target for hackers.



Euler Finance is a lending protocol that lets users gain interest on their crypto assets. It works by allowing users to deposit their cryptocurrency as collateral for a loan. The platform then lends out these funds to other users, who pay interest on their loans.



Despite the recent attack, the Euler Foundation has stated that it remains committed to providing a secure and reliable lending platform for its users. The Foundation has promised to implement additional security measures and to work closely with cybersecurity experts to prevent future attacks.

Euler Finance recently experienced a devastating cyberattack that resulted in the theft of over $197 million in cryptocurrency. The attack saw the hacker make off with $8.75 million of DAI, $18.5 million of WBTC, $33.85 million of USDC, and $135.8 million of stETH. As a result of the attack, the Euler (EUL) token plummeted by 44% within 24 hours to $3.37.

Fri Mar 24 2023

Euler Finance Falls Prey To Massive $197 Million Crypto Hack

Ferrari to Accept Crypto Payments in the US; Plans to Include Europe Underway

Prototype Global Cryptoasset Mapping System Developed

FTX Founder Sam Bankman-Fried Sent to Jail for Alleged Witness Tampering

Huobi Rocked by Reports of Executive Arrests and Accusations of Customer Fund Misuse

Breaking The Chains: Introducing BRC-69, The Bitcoin Standard Without Data Restrictions

Prototype Global Cryptoasset Mapping System Developed

Fri Mar 24 2023 Euler Finance Falls Prey To Massive $197 Million Crypto Hack

Ferrari to Accept Crypto Payments in the US; Plans to Include Europe Underway

Prototype Global Cryptoasset Mapping System Developed

FTX Founder Sam Bankman-Fried Sent to Jail for Alleged Witness Tampering

Huobi Rocked by Reports of Executive Arrests and Accusations of Customer Fund Misuse

Breaking The Chains: Introducing BRC-69, The Bitcoin Standard Without Data Restrictions

Prototype Global Cryptoasset Mapping System Developed

Fri Mar 24 2023

Euler Finance Falls Prey To Massive $197 Million Crypto Hack