Euler Finance was attacked by flash loans, losing 177 million USD

On the afternoon of March 13, the crypto community was buzzing with information that the Euler Finance lending protocol was hacked, stealing an amount of up to 177 million USD.

Euler Finance hacked, loss of 177 million USD

Based on blockchain data, the attacker flashed 30 million DAI from Aave, then used this money on Euler Finance, a DeFi protocol in lending, to withdraw.

According to security unit BlockSec, the estimated damage from the attack is around $177 million in the form of DAI, WBTC, stETH, and USDC.

However, Etherscan marked two hacker wallets with a total stolen amount of $187 million.

Thus, with a loss of up to 9 digits, this is the most serious DeFi hacking event of 2023 as of March.

Euler Labs said it is aware of the situation and is working with security experts, promising to provide more information about the incident in the next updates.

Euler’s EUL token price is down by 45%.

EUL price movement in last 24 hours, CoinMarketCap screenshot at 05:00 PM on 13/03/2023

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