• Euler Finance recently fell victim to a flash loan attack resulting in the theft of around $200 million worth of digital assets.
• Blockchain data shows that an address controlled by Euler Finance’s hacker has sent 100 Ether to a wallet associated with Ronin Bridge exploiter, which is believed to be the infamous North Korean hacker group Lazarus Group.
• Axie Infinity’s Ronin blockchain was also hacked last year, resulting in hackers making off with about $625 million worth of Ethereum and USDC.
Euler Finance Flash Loan Attack
This week, Euler Finance became the latest victim of a flash loan attack, leading to around $200 million worth of digital assets being stolen from the project over six transactions in dai (DAI), wrapped Bitcoin (WBTC), staked Ether (sETH) and USDC. Crypto analytic firm Meta Seluth reported that the attack is related to the deflation attack one month ago and that the attacker used a multichain bridge to transfer funds from BNB Smart Chain (BSC) to Ethereum before launching the attack.
North Korea Involvement Suspected
Blockchain data has revealed interactions between addresses linked to both Euler Finance’s exploit and last year’s breach of Axie Infinity’s Ronin Network, leading many to suspect that North Korean cybercriminals could potentially be involved in this latest assault on Euler Finance. The address belonging to Euler Finance’s hacker sent 100 Ether ($170,515) to a wallet associated with Ronin Bridge exploiter, believed by many sources such as OFAC (Office of Foreign Assets Control) as Lazarus Group – North Korea’s state hacking group. However, it remains unclear if Lazarus Group is connected with this hack or if there is any association between them and those responsible for exploiting Euler Finance.
$1 Million Reward Offered by Euler Foundation
In order for justice for their victims and return of all assets taken from them during this attack, Euler Foundation has announced a reward of $1 million “for information that leads to the arrest [of]the attacker and return [of] all funds extracted by him/her”. Those who believe they have helpful information can send it directly via email at reward@euler.foundation or check out their address: https://t.co/al3xZg77yg for more details about claiming rewards for providing information about this incident.
Axie Infinity Hack Last Year
Just one year prior, Axie Infinity’s Ronin blockchain was also breached when hackers managed to gain access five private keys held by transaction validators causing them lose $625 million worth Ethereum and USDC tokens due said breach in security measures at Ronin network back then .
Conclusion
With both these incidents happening so close together sparking questions surrounding North Korea’s involvement in both attacks while also raising issues on how secure these platforms are against such malicious activities in future ; only time will tell what further investigations reveal .