The Ethereum (ETH)-based DeFi platform Euler Finance is trying to make a deal with the hacker who stole a large amount of money from the protocol. He emphasized that the crypto attacker should return 90 percent of the stolen funds within 24 hours, otherwise he would face legal proceedings.Sending multiple on-chain messages to the attacker, Euler Finance reported that if 90 percent of the funds are not returned within 24 hours, a $1 million bounty program will be launched. The 90 percent refund request gives the hacker the opportunity to hold $20 million. Euler Finance was exposed to a ‘flash loan’ attack on March 13. $198 million in assets were stolen from the protocol from four transactions in DAI, WBTC, sETH and USDC.
Euler Labs is working with US and UK security forces to catch the cyber attacker. In addition, analytics companies Chainalysis and TRM Labs are collaborating with the Ethereum community.
Flash loan attack is called price manipulation by exploiting the vulnerability in smart contracts. After the attack, Euler Finance’s token, EUL, fell by 50 percent to $ 3 .
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