It came as a shocker when the world learned about the cyber attack at Euler Labs. Now the victim Euler Labs has announced the launch of a $1 million reward for information leading to the speedy recovery of the stolen flash loan funds.
According to an official announcement by the Euler Foundation on Thursday, the labs are offering a prize of $1 million in the hope that it will serve as a special incentive to come forward with the information. The reward will help arrest the Euler Protocol attackers and recover stolen funds.
On March 13, the crypto industry witnessed its biggest cyber attack of 2023, where Decentralized Finance (DeFi) lending protocol Euler Finance fell victim to a flash loan attack.
Due to a flash loan attack, the DeFi lending protocol lost approximately $197 million worth of tokens. The attackers stole funds in four transactions, including Dai, Wrapped Bitcoin (wBTC), USDC, and Staked Ether (sETH).
Euler sent on–chain encoded message stating, “if 90% of the funds are not returned within 24 hours, tomorrow we will launch a $1 million reward for information that leads to your arrest and the return of all funds.”
Later, the developers insisted on writing the message to see if the attackers would be willing to talk to us about the next step.
