Euler Finance Hacker Takes The Risky Road, Launders Looted Funds Through Crypto Mixer

An Euler finance hacker has been identified as using a risky road to launder funds through a crypto mixer. The hacker was able to loot funds and hide them by using cryptocurrency to cover their tracks. This has led to increased concerns about the security of crypto transactions and the need for greater oversight and regulation in the industry. With the use of advanced technologies such as blockchain, it is becoming more challenging to trace the origin of funds, which is a major concern for financial institutions and law enforcement agencies worldwide. The Euler finance hacker has successfully exploited this weakness, providing a stark reminder of the risks associated with cryptocurrency transactions.

On March 13, Euler Finance, a decentralized lending protocol, lost approximately $196 million worth of crypto assets to a hacker who exploited the platform’s software vulnerabilities. Euler Finance gave the hacker 24 hours to return the stolen funds or face prosecution, but the hacker reportedly chose to send the funds to a crypto mixer. According to PeckShield and CertiK Alert, the hacker transferred some of the stolen funds to a crypto mixer and another address, respectively. The attacker did, however, return 100 ETH worth almost $165,202 to a victim of the attack who had earlier sent an on-chain message pleading for their funds. Other victims have also been pleading for the return of their funds.

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