Euler Finance Challenges Hackers To Return Stolen Funds

03/15/2023 00:58 • Blockchain Buzz • 108 views

It is reported that Euler Finance released a message to hackers twice via the chain, “We know that you are responsible for the attack on the Euler platform. We are writing to see if you are willing to discuss any potential next action with us. Continue our message yesterday. If 90% of the funds are not returned within 24 hours, tomorrow we will offer a reward of $1 million to collect clues that can arrest you and return all the funds.”

Euler Finance: A reward of US $1 million will be offered to collect hacker clues

Analysis based on this information:

Euler Finance, a decentralized finance platform, released a statement addressing hackers who recently attacked their platform and stole funds. The message was sent out through the chain to the hackers twice, asking them to discuss any potential next action with the Euler team. The message also emphasizes the need for the return of the stolen funds.

The statement gave a 24-hour ultimatum to return 90% of the funds stolen, or face an offer of a $1 million reward for anyone who provides information that leads to the arrest of the hackers and the retrieval of all the stolen funds. Euler Finance seems to be taking a firm step in ensuring that hackers are held accountable for their actions.

It is intriguing to see a Decentralized Finance (DeFi) platform pursue such a route. One of the most exciting attributes of DeFi is the independence it gives users, allowing them to have control over their funds. However, this comes with the challenge of security. The Euler platform breach points a finger at the insecurity of DeFi platforms.

It demonstrates the importance of increased cybersecurity measures on DeFi platforms to avoid hack attacks. Provision of strong firewalls that can withstand penetration against cyber attackers could be implemented. Another recommendation would be ensuring multi-factor authentication for users before accessing their wallets. In addition, more policies should be put in place to encourage ethical hacking and bug bounty programs, which can help mitigate hacking threats and improve the security of DeFi platforms.

In conclusion, the message from Euler Finance speaks loudly to the thieves stealing from their platform. The statement makes it clear that the platform is actively pursuing the retrieval of their stolen funds and justice on the hackers. DeFi and the crypto community will be watching closely to see the outcome of Euler’s campaign against hackers, including other DeFi platforms that may take a cue from Euler Finance’s approach to the attack.

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Euler Finance Challenges Hackers To Return Stolen Funds

Euler Finance: A reward of US $1 million will be offered to collect hacker clues

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