Euler Finance Miner Transferred 100 ETH To Notorious Hacker Lazarus Group

Key Points:

According to on-chain data, the wallet of miner Euler Finance transferred 100 RTH to the notorious hacker group.
It is unclear if the Lazarus Corporation was behind the attack or if there was a connection.
Earlier yesterday, the Euler Foundation offered a reward of $1 million to anyone who finds clues about the hacker and how much was stolen.

On-chain data discovered by Look on Chain shows that a wallet address controlled by Euler Finance’s protocol mining entity recently sent 100 Ether ($170,515) to a wallet associated with the crypto-currency exchange hack the Ronin network of the Lazarus Corporation.

Euler Finance Exploiter transferred 100 $ETH to Ronin Bridge Exploiter(stole 173,600 $ETH and 25.5M $USDC).Ronin Bridge Exploiter was listed by #OFAC as Lazarus Group – the North Korean state hacking group.Are the two hackers the same person or was it intentional?
— Lookonchain (@lookonchain) March 17, 2023

As previously updated, Euler Finance, a decentralized finance (DeFi) protocol that provides on-chain lending was hacked with up to $197 million in damages.
Lazarus Corporation is behind the $625 million mining of Axie Infinity’s Ronin network in March 2022. In addition, this notorious hacker group is also suspected of being involved in many other DeFi hacks in 2022.
The US Treasury Department added Lazarus Corporation to its list of designated entities in April. In January, the Federal Bureau of Investigation (FBI) said the Lazarus Group and North Korea’s APT38 hacking team were responsible for the $100 million theft of crypto assets from Horizon Bridge.

It is not clear whether the Lazarus Group is behind the attack or if there is any connection between them and the mining organization Euler Finance.
In a series of tweets released today, Euler Labs CEO Michael Bentley described the “toughest day” of his life after Euler was hacked.
He retweeted a message shared by a user saying that Euler had 10 audits from 6 different companies and commented that the platform has “always been a privacy-conscious project.”
Euler Finance has requested the return of 90% of the stolen funds within 24 hours. Otherwise, the perpetrator will face legal consequences. That means the hacker can keep $19.6 million. However, there still needs to be a response from the hacker.
The project also sought support from the community with the announcement of a reward of $1 million for anyone who finds the hacker’s clue.

Today the Euler Foundation is launching a $1M reward in the hope that this provides additional incentive for information that leads to the Euler protocol attacker’s arrest and the return of all funds extracted by the attacker.
— Euler Labs (@eulerfinance) March 15, 2023

The token has dropped over 70% since the hack from $6.1 to $1.9 at the moment.

24h EUL price chart. Source: CoinMarketCap

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