Alleged Hacker Behind $200m Euler Finance Exploit Arrested $EUL

Federico Jaime, a 20-year-old from Argentina, has publicly claimed responsibility for the $200 million Euler Finance exploit and is now under arrest in a Paris prison. The alleged hacker gave an interview from a French prison, where he is currently held for what he describes as a "small money-laundering case.

Timeline of Euler-finance

Yield Protocol, a key player in the decentralized finance (DeFi) space, has announced its full recovery following the costly Euler flash loan attack. The protocol, along with 10 other DeFi platforms, suffered significant losses in the wake of the attack on noncustodial lending protocol Euler Finance in March​.

In a surprising turn of events, the notorious Euler hacker, who recently returned $200 million in stolen cryptocurrency, has resurfaced with cryptic messages encoded within transactions. The self-proclaimed Argentine and “Peronist” hacker, known for exploiting vulnerabilities in the Euler code, urged beginner hackers to pursue ethical bounties instead of engaging in illicit activities.

The DeFi protocol recovered a bulk of the $200 million in crypto stolen in March by unidentified hackers.Euler Finance opened redemptions for recovered assets, allowing users to access crypto they had deposited in the platform.The matter is a rare ending in DeFi as hacked protocols hardly ever recover stolen funds and usually rely on other means to reimburse affected users. Users of Euler Finance were greeted with rare news on Wednesday as the platform opened the path to reimbursement after an exploit in March.

Less than a month later after the decentralized crypto lending platform was exploited for roughly $200 million, Euler Finance has for the first time since the exploit allowed users to claim their capital.

Ethereum (ETH)-based decentralized finance (DeFi) protocol, Euler Finance has released the token redemption plan for users affected by the flashloan attack it suffered last month.  

After an arguably arduous back and forth with the threat actors of its exploit, Euler Finance has revealed that the recoverable funds worth roughly $31 million have been returned safely. Euler Finance, a decentralized finance (DeFi) platform for borrowing and lending cryptocurrencies, announced via Twitter that the hackers behind the roughly $200 million exploit on the protocol had returned "all of the recoverable funds.

After an arguably arduous back and forth with the threat actors of its exploit, Euler Finance has revealed that the recoverable funds worth roughly $200 million have been returned safely. Euler Finance, a decentralized finance (DeFi) platform for borrowing and lending cryptocurrencies, announced via Twitter that the hackers behind the roughly $200 million exploit on the protocol had returned "all of the recoverable funds.

In March 2023, 26 exploits resulted in a total loss of $211.5 million in cryptocurrency. One of the most significant exploits was the Euler Finance exploit, estimated to have caused losses of around $197 million.

On March 27, on-chain data reveals that the creator of the March 13 Euler Finance hack returned an additional $26.5 million in Ether to the Euler Finance deployer account. An address connected to the attacker sent 7,738.05 ETH, which was proven to be worth $13.2 million, to the Euler deployer account at 6:21 PM UTC.

The price of EUL, the native token of Euler Finance protocol, has started the week on a bullish trajectory. At press time, EUL was trading at $3.73, up by 5.70% in the past 24 hours. The token has hit a daily high of $3.8.