The crypto community has been attentively monitoring the $197 million in loot on-chain since Euler Finance became the target of the greatest decentralized finance (DeFi) heist of 2023 in an effort to identify the perpetrator. One transfer of 100 Ether was reportedly routed to an address connected to actors with ties to North Korea out of the hacker’s sequence of transfers.
Blockchain investigator Chainalysis revealed that 100 ETH from Euler’s stolen assets was moved to an account detected in a prior attack with ties to North Korea.
Also, the hacker secretly moved 3,000 ETH to Euler’s deployer account. During the time this article was being written. However, no more transfers were completed. In all instances, it was difficult to tell if the hacker was joking or if they had truly thought about taking Euler Finance’s $20 million prize.
Chainalysis raised the prospect of misdirection by other hackers even if it believed North Korea was involved in the Euler Financial incident.
Michael Bentley, CEO of Euler Labs, expressed his disappointment at the $197 million theft while pointing out that ten consecutive audits had verified the security over the course of two years.