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Euler Hackers Ready to Talk – Is There a Deal to be Done?

2 mins
Updated by Geraint Price
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In Brief

  • Euler Finance's team has exchanged messages with the hackers via blockchain.
  • The hackers want to reach an agreement with the protocol.
  • On March 13, Euler Finance suffered an exploit worth over $180 million.
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Hackers behind the Euler Finance exploit have indicated they may be prepared to negotiate the return of the $180 million stolen from the protocol.

The Euler hackers have communicated to the team via blockchain messages to set up a private conversation. The message reads, “We want to make this easy on all those affected. No intention of keeping what is not ours. Setting up secure communication. Let us come to an agreement.”

After receiving the message, the team replied, asking for the hackers’ preferred channel for communication.

Euler Finance team replies to the hackers.
Source: Etherscan

$1 Million Bounty on Offer

On March 16, Euler Finance’s Chief Executive Officer (CEO), Michael Bentley, announced a $1 million reward “for any information that leads to the identification and arrest of the attacker.”

Then on Sunday, Euler Finance received a blockchain message from someone claiming to have “found a solid string of connections.” 

The message says, “Good day Euler Team, I believe I’ve found a solid string of connections that could help you in regards to finding out where & who the Exploiter is, at the least pertaining to a specific exploiter tag/labelªI’ve already sent you an email from my skiff account which starts with a Z and ends with an E regarding FNLNªThe subject has the title Report1.1 therein, there is still much more to share once the Report is excavated in its entirety yet what I’ve already submitted should be sufficient for your successªFeel free to reach me via email or blockscan chat.”

Hackers’ Links to Lazarus Group

After stealing over $180 million from the protocol on March 13, the hackers returned 3,000 Ethereum (ETH) in batches of 1,000 ETH. 

The hackers even transferred 100 ETH to one of Euler’s users, who returned funds to the protocol. The most notorious activity of the hackers is sending 100 ETH to the North Korean government-backed cybercrime organization Lazarus group.

Lazarus group conducted the infamous $620 million Ronin Bridge attack last year. In January, the Federal Bureau of Investigation (FBI) confirmed that the Lazarus Group was also responsible for the $100 million Harmony Bridge attack.

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Harsh Notariya
Harsh started investing in crypto during the 2021 bull market. He took the opportunity of the market crash in May to learn more about Bitcoin and blockchain technology. Since...