The loss of the attack on the decentralized lending platform Euler Finance on March 13 reached incredible values.
Euler Finance, the leading name of lending platforms, suffered a sudden credit attack on March 13. The scandalous situation, which went down in history as the biggest crypto attack of 2023, caused enormous damage. The Euler Finance attack, which lost approximately $197 million and affected more than 11 DeFi protocols, seems to have settled on the crypto agenda. The crypto market suffered a massive drop due to the FUD news. Standing up again, BTC pushed the market upwards. With the increasing crypto market capitalization, crypto attacks have also increased.
Euler Finance Trying to Save Its Funds
An update on our work today to recover funds for Euler protocol users.
Here are a few actions we took immediately:
1. Stopped the direct attack as soon as possible by helping disable the EToken module, which blocked deposits and the vulnerable donation function
2. Engaged TRM… https://t.co/6ZClE9uGoH
— Euler Labs (@eulerfinance) March 14, 2023
Faced with one of the biggest crypto attacks in history, Euler Finance made statements about the attack. Along with the article he published on March 14, he stated that he was working with various security groups to perform audits of the system.
In addition, Euler Finance, which continues to take precautions regarding security, has announced that it has disabled some systems in order to continue its activities. Euler Finance notifies the users of the developments regarding the event with the shares it makes on social media.
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