{"id":46612,"date":"2023-03-14T03:53:03","date_gmt":"2023-03-14T07:53:03","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=46612"},"modified":"2023-03-14T03:55:54","modified_gmt":"2023-03-14T07:55:54","slug":"defi-lender-euler-finance-drained-of-197m-in-flash-loan-exploit","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/defi-lender-euler-finance-drained-of-197m-in-flash-loan-exploit\/","title":{"rendered":"DeFi Lender Euler Finance drained of $197M in flash loan exploit"},"content":{"rendered":"\n

According to auditing platform BlockSec, the decentralized finance platform Euler Finance <\/a>purportedly experienced a $196.9 million exploit.<\/p>\n\n\n\n

\"DeFi
DeFi Lender Euler Finance drained of $197M in flash loan exploit<\/figcaption><\/figure>\n\n\n\n

A flash loan assault targeted Euler Financial, which resulted in the loss of DAI stablecoin, WBTC, stETH, and USDC valued at $197 million. To find the attackers, Euler Labs is collaborating with security professionals and law police.<\/p>\n\n\n\n

The newest victim of a multi-million dollar flash loan attack is Euler Finance, a decentralized finance (DeFi) non-custodial lending and borrowing protocol powered by the Ethereum blockchain network<\/a>.<\/p>\n\n\n\n

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1\/ @eulerfinance\r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a> was exploited in a flurry of txs on Ethereum (one hack tx: https:\/\/t.co\/L7ddZhHNq5<\/use><\/svg><\/span><\/a>), leading to the lost of ~$197m from the project.<\/p>— PeckShield Inc. (@peckshield) March 13, 2023<\/use><\/svg><\/span><\/a><\/blockquote>

According to a tweet from blockchain analytics platform PeckShield<\/use><\/svg><\/span><\/a>, the hacker carried out the theft in a flurry of transactions, snatching from the network cryptocurrency valued at almost $197 million. The attacker planned the attack by taking advantage of a flaw in the donation and liquidation logic of Euler Finance.<\/p>\n\n\n\n

\n

We are aware and our team is currently working with security professionals and law enforcement. We will release further information as soon as we have it. https:\/\/t.co\/bjm6xyYcxf<\/use><\/svg><\/span><\/a><\/p>— Euler Labs (@eulerfinance) March 13, 2023<\/use><\/svg><\/span><\/a><\/blockquote>

The DeFi protocol's creators, Euler Labs, claim to be aware of the attack and working with law authorities to track down the hackers. According to Defi Llama, Euler Financial has $9.8 million in locked value overall.<\/p>\n\n\n\n

In 2022, bad actors in the crypto industry stole more over $3 billion, and this year has seen a resurgence of heists and thefts. According to a recent revelation from crypto.news, hackers stole more than $21 million from DeFi protocols<\/a> last month.<\/p>\n","protected":false},"excerpt":{"rendered":"

According to auditing platform BlockSec, the decentralized finance platform Euler Finance purportedly experienced a $196.9 million exploit. A flash loan assault targeted Euler Financial, which resulted in the loss of DAI stablecoin, WBTC, stETH, and USDC valued at $197 million. To find the attackers, Euler Labs is collaborating with security professionals and law police. The […]<\/p>\n","protected":false},"author":43,"featured_media":46614,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[11476],"tags":[197,13744,12002],"class_list":["post-46612","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-hacks-and-scams","tag-defi","tag-euler-finance","tag-hacks"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2023\/03\/croc_1678738457401.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/46612","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/43"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=46612"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/46612\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/46614"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=46612"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=46612"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=46612"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}