The Euler hacker has returned a majority of the stolen funds worth around $90 million, over the weekend.
On-chain data shows that the wallet associated with the Euler hack returned 51,000 ETH on Saturday. The hacker still holds $73 million worth of ETH and $43 million worth of DAI from the funds stolen in the $190 million exploit.
— Lookonchain (@lookonchain) March 25, 2023
Euler’s native token EUL surged 60% within 30 minutes after the news of the funds being returned. At the time of writing, EUL was trading at $3.79, gaining 7% over the last 24 hours.
The move to return the funds follows a series of interactions between the Euler hacker and the team behind the protocol through messages encrypted in blockchain transactions.
“We want to make this easy on all those affected. No intention of keeping what is not ours. Setting up secure communication. Let us come to an agreement,” wrote the Euler hacker in a message to the Euler team on March 21.
In the midst of the negotiations, the hacker associated with the Ronin bridge exploit seemingly attempted to phish the Euler hacker with a link to a GitHub repository containing a security vulnerability.
Although it now appears that this attempt was unsuccessful and the Euler hacker has started returning the stolen funds, blockchain data shows that the hacker transferred around $10 million DAI to another wallet before they returned the 51,000 ETH to the protocol.
On March 13, Euler lost $136 million worth of staked ETH, $34 million worth of USDC, $19 million worth of wrapped BTC and $8.7 million worth of DAI in the flash loan exploit.