Cryptocurrency

Euler Finance hacker sends 100 ETH to red-flagged North Korean address

BusinessLine.Digital
BusinessLine.Digital
2 Min Read



Ever since Euler Finance fell victim to the biggest decentralized finance (DeFi) hack of 2023, the crypto community closely follows the $197 million loot on-chain — hoping to track down the attacker. Out of the series of transfers made by the hacker, one transaction of 100 Ether (ETH) was allegedly sent to an address associated with North Korea-linked actors.

Blockchain investigator Chainalysis identified 100 ETH from Euler’s stolen funds was transferred to an address that was flagged in an older hack with links to North Korea.

Concurrently, the hacker also transferred 3,000 ETH to Euler’s deployer account without disclosing their intent. However, no other transfers were made thereafter at the time of writing. In both cases, it was unclear whether the hacker was trolling or if they genuinely considered accepting Euler Finance’s bounty reward of $20 million.

While Chainalysis suspected the involvement of North Korea in the Euler Finance hack, they highlighted the possibility of misdirection by other hackers.

Related: Euler hacker seemingly taking their chances, sends funds to crypto mixer

Euler Labs CEO Michael Bentley shared his displeasure with the $197 million hack as he revealed that ten separate audits conducted over two years assured its security.

As Cointelegraph previously reported, blockchain security firms, including Halborn, Solidified, ZK Labs, Certora, Sherlock and Omnisica, conducted smart contract audits on Euler Finance from May 2021 to September 2022.