Crypto Lender Euler Finance Falls Prey To $197 Million DeFi Flash Loan Attack

Euler Finance was drained of DAI tokens, staked Ether, USDC, and wrapped Bitcoin after a flash loan attack.On-chain security firms BlockSec and Peckshield said losses from the exploit were over $190 million in cryptocurrencies.The DeFi lender was unsure about who attacked its protocol at press time but Euler promised to update users as more information comes to light. Approximately $197 million in crypto was stolen from Euler Finance after the decentralized finance lending protocol suffered a flash loan exploit on Monday around 4:50 am ET, on-chain security firms BlockSec and Peckshield confirmed.

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