Euler Finance Attacker Launders Stolen Funds Through Tornado Cash

The latest exploit on borrowing and lending protocol Euler Finance is still making headlines in the DeFi space. The March 13 attack saw the firm lose over $197 million in various cryptocurrencies. According to blockchain security analysts, the hacker exploited the protocol’s vulnerabilities to execute their illegal act.

Although on Wednesday, Euler Finance issued the attacker an ultimatum of refunding the money to EulerDAO within 24 hours to avoid being prosecuted, the thief has instead transferred the funds to coin mixer Tornado Cash, according to blockchain analytics firm PeckShield.

How Much Money was Laundered?

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PeckShiled report shows the exploiter sent over 1,000 ETH worth $1.6 million to the coin mixer via an intermediary address.

Further, Certik Alert reported that the hacker transferred 2,500 ETH worth $4 million to another address with the name Fake_Phishing76536.

Euler Finance had earlier sent the hacker an on-chain message threatening to launch a $1 million reward for any person that would give information leading to their arrest and recovery of the stolen funds. However, the hacker’s latest moves show the company’s threats do not faze them.

Euler Finance Hacker Refunds One Victim of the Exploit

PeckShield has revealed that the Euler Finance attack transferred 100 ETH worth $165,000 to a wallet address that the company believes belongs to a victim of the hack. PeckShield explained that prior to the transfer, the wallet address had sent an on-chain message to the hacker, begging them to return their funds.

Minutes after the hacker returned the victim’s money, other investors affected by the exploit bombarded the attacker’s address with messages hoping to get their funds back as well.

One notable message congratulated the attacker on their successful flash loan attack. But the same address later sent another message, this time pleading with the hacker to return the funds to enable them to acquire the house they desperately needed.

Another address messaged the hacker, explaining that they invested their entire life savings of about $1 million in Euler Finance and, therefore, it would break them if they did not get their money back.

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That being said, whether the hacker will listen to the victims’ plea and refund their money remains to be seen.