Following the devastating Euler Finance DeFi hack, which resulted in a loss of $197 million, crypto-fans tracked the loot on-chain in an effort to uncover the perpetrator. According to Chainalysis, out of the series of transfers made by the hacker, 100 ETH was allegedly sent to an address with known links to North Korea-associated actors.
The hacker transferred 3,000 ETH to Euler’s deployer account without disclosing their intent. At the time of writing, no additional transfers had been made. It is uncertain whether the hacker was acting with malicious intent or if they were indeed considering taking up Euler Finance’s generous offer of a $20 million bounty reward.
Chainalysis suspected North Korea’s involvement in the $197 million hack of Euler Finance, yet cautioned that other hackers may have been attempting to misdirect attention away from the true culprit. Michael Bentley, CEO of Euler Labs, expressed his displeasure with the breach and shared that ten independent audits carried out over two years had previously assured its security.