Euler Finance Miner Transferred 100 ETH To Notorious Hacker Lazarus Group
Key Ideas
- On-chain data shows that miner Euler Finance transferred 100 RTH to the infamous hacker group from their wallet.
- There may or may not have been a connection between the attack and the Lazarus Corporation.
- The Euler Foundation earlier yesterday announced a $1 million reward for any information regarding the hacker and the amount of money that was taken.
According to on-chain information found by Look on Chain, a wallet address under the control of the protocol mining entity for Euler Finance recently sent 100 Ether ($170,515) to a wallet linked to the Lazarus Corporation’s Ronin network hack.
As previously updated, Euler Finance, a decentralized finance (DeFi) protocol that offers on-chain lending, was compromised, potentially resulting in losses of up to $197 million.
The Ronin network of Axie Infinity will be mined for $625 million in March 2022 by Lazarus Corporation. Additionally, a large number of additional DeFi hacks in 2022 are thought to have been committed by this infamous hacker group.
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Lazarus Corporation was added to the list of entities with special designation by the US Treasury Department in April. The Lazarus Group and North Korea’s APT38 hacking group were accused by the Federal Bureau of Investigation (FBI) in January of stealing $100 million worth of cryptocurrency from Horizon Bridge.
It is unclear if the Lazarus Group is responsible for the attack or if they have any connection to the mining company Euler Finance.
Euler Labs CEO Michael Bentley wrote about the “toughest day” of his life after Euler was hacked in a series of tweets that were published today.
The platform has “always been a privacy-conscious project,” he tweeted in response to a user who shared a message claiming that Euler had received 10 audits from 6 different companies.
90% of the stolen money must be returned to Euler Finance within 24 hours, according to their request. Otherwise, the offender will be held accountable in court. Accordingly, the hacker gets to keep $19.6 million. Nevertheless, the hacker still needs to respond.
The project also solicited community support by offering a $1 million reward to anyone who can find the hacker’s clue.
The token has dropped over 70% since the hack from $6.1 to $1.9 at the moment.