Hackers Pillage $197 Million in Crypto From Euler Finance

, which refers to itself as a team of software engineers “specialising in the research and development of financial applications,” is the developer behind a “capital-efficient permissionless lending protocol” that the company says helps users “earn interest on their crypto assets or hedge against volatile markets without the need for a trusted third-party.

One of the first to spot the attack was Peckshield, a blockchain security company that is known for flagging irregular asset transfers. On Monday, Peckshield tweeted out a link showing abnormally high transfers from Euler:: “We are aware and our team is currently working with security professionals and law enforcement.”: “We continue to investigate this morning’s unlawful extraction of funds from the Euler protocol.

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