Euler announced a $1 million bounty for any information about the hacker after attempts at finding a middle ground failed.to Euler on 20 March, the hacker said they now want to “come to an agreement” with the lending protocol.DeFi protocols have witnessed remarkable growth since 2021, with funds deposited on their smart contracts increasing by leaps and bounds.
However, with the expansion in liquidity, they have also managed to grab the attention of unscrupulous players., the total value hacked at the time of writing was $6.45 billion. DeFi protocols lost more than $3 billion in 2022, which was the worst year on record. While there was a considerable lull during the months of December and January, hackers returned to deal a severe blow to the DeFi industry.
In February, seven protocols were attacked, which led to $21 million of funds being stolen. One of the biggest was the flash loan reentrancy attack on Platypus Finance where hackers managed to siphon off $8.5 million.Notably, 16% of the hacks were attributed to the compromise of private keys. And nearly 8% of the funds were hacked when the protocols fell victim to access control exploits.Subscribe to get it daily in your inbox.
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